Pardon my ignorance. The replacement of Henry does not seem to be any cause for the late rally. The global crisis is caused by the spread of the deadly virus from Wall Street and we are another pick from the same center of disease. Worse, how can we be sure that the NY Fed was not part of the problems causing the housing and financial crises?
As far as I can remember, the NY Fed was behind all the evil bailouts of Wall Street and who can say the NY Fed President is or is not a friend of Wall Street? Wall Street has been stripped off all its pretty masks by now; it is the core and primary source of all the evils spreading round our world. Anything from Wall Street would guarantee the prolongation of the disease killing our world!
I find there is nothing to feel good about this replacement! I don't see the "rally" to be any sign of any meaning! Seeing how badly things are developing in America, I think somehow investors (I mean genuine and honest investors) will be forced to make the painful decision to retreat altogether from US investments.
Suppose you are an alien coming to learn about what is happening on earth, what would you think our world would change in view of the housing and financial crises and recession? That's the perspective you should adopt in thinking about our future. Look at things from above not on the horizontal level.
Alternatively, you may look at things from below. Imagine you are one of the devils released from the Hell Gate in Wall Street, what would you think our world would become? That's another perspective you may adopt. Just don't think on our horizontal level anymore!
God why have you forsaken us? Why are you doing nothing?
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