The Money Illusion

The voice of caution is not welcome in the market today.  The Fed is on a mission to reflate the economy.  Nothing is allowed to stand in its way.  Currently, FOMC is more concerned about one half of its mission, the half that Congress loves to grill the Fed Chairman about and in the process putting on a lively show to advance their own political agenda.  Until employment turns, the Fed will not change its tune.  That translates into a guarantee of cheap money for an "extended period".  How can one fault the market for loving the Fed's music, like a cobra dancing to the sound of the flute.  But then, who is asking the question of the "The Money Illusion".