- No taper
- Only one dissenter
- GDP estimates going down
- Gold going up
- Stocks going up
- Yields going down
- Emerging markets should go up
- Fed is worried? (not clear at this point)
When the NFP came out on September 6th I tweeted that based on how bad the report was that if they went ahead and tapered it was about politics instead of fundamentals. I further noted that day that asset purchases are really a perversion of capitalism but they are doing it, have been doing it and so they need to remain committed to what they started.
Had they not done it then the crisis would have been worse but I believe we would have signs of recovery by now that are real.
One idea I brought up a couple of times in the past is that the worst financial crisis in 80 years would be with us for a while and that the Fed has no idea how this will end. I think today supports that idea.