Bernanke Re-Appointment Reassures Markets

Despite the negative news on the jobs front, the markets seem reassured that a Bernanke reappointment seems more likely. Stock futures are up significantly. They should be traumatized rather than reassured. A Bernnake reappointment only guarantees more bubble-blowing, and bubbles popping! This is a sign that inordinate and irresponsible risk has returned as the order of the day. This spells -- and smells -- like more trouble brewing ahead! And this is precisely why a Bernanke reappointment is such a bad idea. It will lead to even greater pain when this latest bubble pops!