Something Mish wrote about the Yen gave me a laugh this morning: "History has proven time and again that intervention does not work" Oh no, there goes Tokyo...
I am also fond of this: "You know, they're schemers. Schemers trying to control their little worlds. I'm not a schemer. I try to show the schemers how pathetic their attempts to control things really are."
Yes, it's the Joker again, with a perfect quote for all those politicians in Washington, all those monetary policy theorists, media giants (Krugman, etc.), economists doped up on convention and of course, policy makers themselves, like Mr. Bernanke.
This economic meddling may extend and pretend, but it does not work. Well it does work in ways quite aside from those intended. Because when their initiatives ultimately fail, the fallout is so much worse than it would have been had they just left well enough alone where natural economic cycles are concerned.
Instead, they try to control their (and our) little worlds, and it will not work.
I think we rally shortly, and then look for some serious opportunity to get bearish (assuming that the expected signals confirm).