Bernanke gave a whole speech last night titles "Fostering Financial Stability" at the Federal Reserve's Stone Mountain, Georgia conference and didn't say one thing about more quantitative easing – not even a hint. Without an endless supply of MORE FREE MONEY from the Fed – what is going to hold our markets up at these inflated levels?
Goldman Sachs immediately covered their assets, putting out a note indicating "A number of factors reinforce our desire to be more cautious about the data in the near term:"
And, as pointed out by Business Insider – Goldman Sachs can't possibly be wrong. Not because they are smart, nor because they are amoral, evil, greedy, manipulative bastards (allegedly) – but because they talk out both sides of their Corporate mouth so they can always point back at something to "prove" they called it. Kind of like Cramer's daily flip-flop scam only with more people.
Business inside points out that while Jim O'Neill is on CNBC standing behind Peter Oppenheimer and Abby Cohen's bullish calls for the retail suckers who watch TV for investing advice, the official firm stance of David Kostin (Chief Equity Strategist) and Stuart Kaiser, who put out the above note – is, in fact, BEARISH.