Jim Sinclair’s Commenatary

• Whatever economically needs to be done will be done in order to keep the DJII at or return it to 12,000.
• There will be no limits to Fiscal Stimulation
• There will be no minimum target for interest rates at the Fed.
• Whatever level that is in their mind required, even zero bound, will occur.
• All of this is because the meltdown of the $450 trillion dollar mountain of over the counter derivatives will be resisted with no thought to the consequences.
• Because the Fed and the Treasury really believe that perception is and makes economics, the Dow level is more important than any other economic statistic.

I believe he is right

• The President's Working Committee on Markets (PPT) did one hell of a job, but the consequences will take the US dollar to hell in a hand basket