When the FED bought yet more Treasuries yesterday, effectively printing money, the market rejoiced. Karl Denninger documents it well in his latest post (look at the two charts near the bottom). Unfortunately, few such happiness-shots remain: The program to buy Treasuries is capped at $300 billion, and after Monday 9/21, $289 billion has been spent.
I expect two or three more of these infusions before they run out of heroin for the drug addict. This should get us to the beginning of October. Then what?