Why, You Heard Something?

In the previous post, Bernanke was mentioned as not wanting to be the guy in history who looked liked nothing could be done. He continues to work feverishly to build work-arounds for the debt related network of woes, especially in regards to housing foreclosures. In a NY Times article describing his efforts to have Congress deal in an innovative manner on the particular problems driving foreclosures this time around, you get the clear feeling Bernanke knows something about the severity of the debt crisis that the stock market is just not getting. Now whether he is trying to preserve the buyside inclinations of an idiot public or the ever stranger bullish excuses coming from market television coverage, the absolute complacency of market participants is odd. Bernanke's own Fed efforts have provided some cover for the bulls, but that only explains part of the story. Even through the ugly breaks earlier this year, market participants have viewed it all as an opportunity to add on or at least hang on to positions. The fact is, there is enough investment money around to heat many markets. As long as commodity markets roar, there is investment wonder. For the bulls, they believe the break is over. For the bears, it will be hard to get traction without a commodity crash.