DOW Surges on...bad news

Such a strange world we live in. US unemployment increases, the dollar falls, oil price increases and the DOW zooms up 220 points. So much for rationality of the markets. Perhaps the markets rose on improved productivity and lower per unit labor costs. But neither of these metrics will improve the US consumer economy. Now that QE2 has been announced and the dollar is falling, oil prices have broken through $84 and are heading up. This can't be good news for the consumer economy. Some retailers reported better month to month sales in October. Perhaps this news influenced the markets. It's hard to read this market.

Brazil, China and Germany, as well as many economists, believe that QE2 is a mistake. I don't think any of the complaints will slow Bernanke and the Fed down. They have their orders. The oligarchs are going to print the deficit and pay down debt with devalued dollars. And I don't believe this is about the US economy or reducing unemployment. The oligarchs have written both off as the price of global control. Uppity americans need to learn that they deserve no better than any Indian, Idonesian, Chinaman or Rwandan peasants. Who needs an exceptionalist middle class when you can control billions of faux middle class around the world.