Official Confirmation: THE FED IS CRAZY

Want to know just how screwed-up the markets are with regard to the Fed?  Consider this amazing statement from today’s CNNMoney:
"Bad news is good news for the market vis-a-vis the Fed," said Bryan Piskorowski, a market analyst at Wachovia Securities. "We're basically just in a real uncertain time."
Investors are looking for any signs that the Federal Reserve might be under less pressure to raise interest rates again when the central bank's policy-makers meet later this month after 16 rate hikes over 22 months.
In other words, the markets are currently being driven by Ben Bernanke, not by actual events.  This is, in a word, insane.  It is further evidence that the Fed is completely out of control and needs to be at least severely curtailed in its activities, if not abolished outright.  I mean, here’s a fun one – if the Fed is not completely nuts, how is it that weak manufacturing data is GOOD for stocks?  But that’s what happened this morning.  Weak data comes in, stocks rally.

Sigh.