Most of the confusion over Federal Reserve monetary policy over the last year and a half has been due to so called experts defending their mistaken analysis rather than confusing cross signals from the Fed.
I recently read a Chicago Tribune column by Victor Hanson where he criticized President Obama basically for hypocrisy because in 2006 Obama criticized President Bush's deficit spending. No where in the column did it mention the credit crisis.
For the next month or so most risk asset markets are likely to be driven by the more normal price drivers, which include the state of the European debt situation, global economic growth and the evolving geopolitical situation in the Middle East.
Shareholders of scores of public companies can expect to get some holiday bonuses this year, as many of these firms rush to issue special dividends before a potential 2013 tax hike linked to the fiscal cliff kicks in.
If traders believe that the Iran sanctions are starting to work perhaps forcing a change in the power structure of the regime, it is very possible that the possibility of an attack on Iran is diminishing.
Through her independent research into the global financial crisis, Janet Tavakoli uncovered what she calls massive, widespread fraud committed by a network of mortgage originators, securitizers, and rating and regulatory agencies, among others.