How stupid are people? Stocks surge on hopes for more Fed aid

"The Dow is up more than 100 points as traders hope for more 'quantitative easing.' Jobless claims move higher again. OPEC leaves quotas alone, and oil and natural gas push higher. Spanish bond yields nearly hit 7%.

Stocks were rallying today, despite a weak report on U.S. jobless claims and continued worries about Europe.

But traders were buying stocks anyway because Wall Street is betting that all the crummy news of late means the Federal Reserve will announce another round of quantitative easing, perhaps even next week. Quantitative easing is the buying of government securities to keep interest rates low...."

Rest of article:

[link to money.msn.com]

You know the market/economy is in big trouble when the traders are buying in hopes of the Fed magically pumping in more digital fiat dollars into the system.

That's like saying:

You know the party (market/economy) is in big trouble when the partygoers (traders) are sticking around (buying) in hopes of the drug dealer (Helicopter Ben) magically brings in (pumping in) more cocaine, heroin, ecstasy (digital fiat dollars) into the club (system).

Once the flow of drugs (money) stops cold turkey, the withdrawal pains will come crashing down!!!!!!!!!!!