SDRs are inflationary helicopter money, and IMF aid does more harm than good.

The risk of a near-term "bag run," and a long-term drag on the whole banking sector.

High yield spreads say the worst is over, but they're not yet fully predicting recovery.

Of course the economy has improved slightly -- but the Fed remains bent on inflation.

There's no Q1 retrenchment of consumption -- there's a shock to investment.

An unappreciated feature rules out another "bag run" on banks.

Bernanke thinks the economy has turned the corner -- all the worse for inflation risk.

How high will the 10-year yield go before Bernanke slaps it down?

As in 2003-2004, emerging market forex indicates there are more than enough dollars.

Meet the "change" trading range -- a go-nowhere market just like the 1960s-1970s.