The West seems to have lost the recovery race. And the banks are taking note of this by shedding jobs in Europe and NA. Oil is rolling back towards $90/bbl, leading indicators are slumping again, gold's hitting a record daily and interest rates on European bonds are on a massive rise. Or
This is all just a massive market scam to force US to go for a QE3 as most of the instruments above (stocks, bonds, oil, gold etc) are controlled by financial institutions and having milked $1.5 trillion out in profits from the treasury and setting record profits in 2009 and 2010 (not to forget massive bonus payouts), the profitability is on a decline.
The only neutral indicator "Unemployment" rate which the banks do not contribute much to hasn't improved that much.
Now we shall hear requirement of stimulus drumming up from the banks, Fed comes out with statement, followed by treasury and then Mr. Obama will sign for an another stimulus. But wait, he cant do it so directly this time as the Republicans will be vying for his blood. So where do we end-up ??