Late in August I issued a special report to clients that suggested that the Federal Reserve would not taper at all for the remainder of 2013, but just prior to the Federal Open Market Committee meeting in October, I added a note to that observation, pinpointing the lower level of interest rates and the reduced associated risk coupled with lower rates. All of this is now being absorbed by the market, and commentators are suggesting that the FOMC would now need to stimulate much more aggressively in order to further the asset bubble that is already in place. That simply is not true. I absolutely consider virtually all ... (full story)