Stunningly bad jobs report --> Fed now has to act --> inflationary pressure --> hedge --> oil spikes (now up over a buck; flirting with $100 again).
Watching the Fed is beginning to look a lot like watching Apple events: leaks/expectations --> hype/lots of talk --> the event --> less than expected --> disappointment.
As noted before, I hope the Fed acts: I'm curious to see what it has left in its quiver. [Later: so that was it! $40 billion/month to buy mortgages. Hmmm. I honestly don't get it. I assume most folks need a job before they can buy a house, but again, that's just me. I don't think this makes it easier for anyone to buy a house; mostly just allows some more re-financing and keeps more people from losing their homes. But the immediate effect, it seems is this: commodities rise significantly. Oil jumped in price --> price of gasoline and diesel will increase --> hurt employers buying gasoline for their drivers (who care not how they drive company vehicles) and hurts individuals filling up their own tanks. So, we go into a period of increasing the price of gasoline?]
