The Misery Index

(1) The latest version of the Fed’s message. (2) Fed’s “shadow” mandate is to boost stock prices. (3) Financial stability is at the bottom of the Fed’s mandate list. (4) Avoiding bubbles is hard to do, says Fed governor. Bernanke agrees. (5) Misery Index has too much unemployment, not enough inflation. (6) Falling misery is bullish for stocks maybe for another four years. (7) Will Fed lower the jobless threshold to 5.5% from 6.5%? (8) Labor force dropouts account for all of the drop in jobless rate. (9) Lots of part-time jobs. (10) Good news out of Europe. (11) Raging bull sectors within the aging bull market. (12) “The Way, Way Back” (+).