"The story of the year was a weak economy that could have been much, much weaker. Thank the man who runs the Federal Reserve, our mild-mannered economic overlord."
I have held open the possibility and even probability that we have seen the lows in the markets with the passing of the capitulation last March. I have twittled (my term since before Twitter) up several scenarios, some of which are bullish for markets in nominal (not in ratio to gold) terms.
But there has also been a scenario that sees the major media - the same major media that worked Armageddon firmly into the public psyche - trumpeting the heroes of the recovery, and indeed the heroes themselves trumpeting the recovery. Now, gentle Ben is too polite to self-aggrandize in the manner of his predecessor, but Time has done it for him. Check out the slide show here.
Just as the major media giving its believers NO HOPE FOR SURVIVAL in March was a bottoming indicator... well, what the heck do you think this is? Also, how perfect is it that they have superimposed Ben's likeness on a dollar bill? The man cast against the currency he devalues to bring on the much hailed recovery.
Lest anyone need reminding of what Time had to say last year...