MSNBC today's spike in the market is due to the Fed delaying the raising of interest rates. My spin is based off of Gold Seller and Euro Pacific Capital CEO Peter Schiff. I'm not one of those guys who has anything more than a passing interest in the markets. I do however get a little bit nervous every time another delay in raising the rates. Why?
According to Schiff all of this QE is causing inflated prices in the market. So what will happen once the bubble gets popped is you will see a reduction across the board. Granted Mr. Schiff is stands to make quite a bit of money in gold if things go the way he predicts or even if enough people are scared.
Below if you take a look at the chart you can see how the Dow Jones Industrial Average has not been higher and is roughly 5000 points higher than things were in 2008. I would make the argument that we have not returned to an economy that is better than pre recession. However we still are under Quantitative Easing. Why? Because something else is at hand.