Simply Put

The Fed Backed Itself into a Corner

Its not federal and it has no reserves, never has. The Fed is based on nothing and backed by a building with Federal Reserve sign on it and inside is a check book. backed by nothing. Its basically a check floating scheme .Talk about kidding ourselves, its the foundation of this Plutocracy They tell Washington what to do and we have no say in it.

Watch this:
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Or listen to this when you get an hour free:
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Or go to Youtube: Creature of Jekyll Island

David Weidner's not surprised an America sucked in by an improbable boy in the balloon continues to be bamboozled by Wall Street's slight-of-hand. "The 'dumb money' never fail to live up to our reputation as suckers, chumps and easy marks. We keep putting our money in the market, diversifying and looking at the fundamentals of the underlying investments."

Im afraid Mr Dirt your premise is flawed. The pros (money managers) have advised their innocent clients (suckers) that its time to put their money to work. Why ? to make their comissions for the year. Thats whats driving the market up only to fall have the bubble burst eventually . Remember the old saying that money managers don't know when to sell. They wont get their customers out so there will be plenty of opportunities to short.

ETFs That Could Be Affected by Today's 11 Downgraded Banks

If you think its time to get optomistic think again. The worst is still yet to come,. The rich are now feeling the heat and a new wave of negativity is going to hit like a tidal wave ala Madoff and more toxic assets on bank sheets and commercial mortgage defaults. It wont be a happ new year for long. Imagine after the bad news is all out, there will be no party. There will be a U shaped bottom that lasts at least a year if no more real bad news occurs. It will be like being trapped down a well without a ladder. Sure the only way out is up, but theres no way to get there. I advise taking off any rose colored glasses you may be clinging to and look the reality in the eye. This is not an "investors market" yet unless you want to trust your money to a black hole with no foreseeable exit. DO NOTHING, it might save you a LOT of money!