It’s so entertaining to see the media sophists try to explain the post-Fed meeting rally. Before the meeting, Wall Street was said to be waiting for the Fed to cut the market some slack by saying inflation was no longer a worry. When that didn't happen and the market rallied anyway, because it wanted to, they had to say it was because the Fed thinks the economy will continue to expand.

James Lackey notes:

Your auto-news generator count not have possibly kept up last week. There was a blizzard of bearish stories that reminded me of the movie "JFK." There was a scene where a black ops man was explaining to the prosecutor how quite miraculously all the background info on Lee Harvey Oswald was released via newspapers globally, seconds after his arrest.

Unlike the movie, no one screwed up and got their time zones incorrect. That is to say no one released the pre-planted stories by accident before the actual release by the banks every hour of every day last week.


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