I don't know how to react to this. Vince Farrell is one of the talking heads that seems to always be on Kudlow & Company. I watch Kudlow probably on average of 3 to 4 times a month and of all the talking heads I have thought he ranks up there as being one of the bigger idiots. He has been extremely bullish which does not make him an idiot but his supporting arguments have always been pathetic in my opinion. Well now he is being "cautious." I don't know if this is a huge contrary indicator or meaning that the last die hards are giving up and a crash is coming. Either way, I would have rather heard him stick to his bullish rhetoric.
http://www.cnbc.com/id/26605036
The markets will like the government actions regarding Fannie and Freddie. The stock market will rally, the Treasury market will sell off as money is switched back into agency (paper that will carry a yield premium to Treasuries with the same backing.) The dollar will continue its rally and all looks OK with the world.
I would be skeptical of any rally, however.
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