Quietly Edging Toward The Door

The pols are still being pols knowing that IBGYBG (I be gone you be gone) and are continuing to act as if all is peaches and cream.
But, the smart money is edging nearer the door; they realize that continuing QE is becoming more iffy by the day.
Here is an interesting take on the S&P action from ZH and what it might mean for your future. It is worth your time to read it all but skip most of the comments.

"Stocks have rallied from 900's to 1,300 as the smart money bet on unwavering and unlimited government support. Tepper was spot on. He called it for what is was. Now, smart money may be realizing that the game is over. There was already concern about the ability to continue the QE franchise, but this [S&P blather] adds another obstacle to including it. There was always the hope of another round of stimulus on any economic weakness, this also just took a little hit. Today's market reaction is a direct result of a growing realization that the fed/government put may not be there, or may be struck lower than we realized. The pundits can continue to be wrong about their budget commentary, can scream til they are blue in the face that the rating agencies don't get it, but we have moved one more step towards that slippery slope where government support for stock prices is getting more difficult to implement."

LINK