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Ben Bernanke has overseen another crash of broad money growth (again), which means you can expect to see a lot more of the recent weak US economic data coming through in weeks and months ahead. In the short-term, it means the bias for US stock markets are also lower. If Bernanke continues this for much longer, the US economy will collapse in a heap like it did in 2008. Time-frame: 6 months. Don’t say no-one mentioned it. But this also means that more money printing (i.e. QE) is not far off right now. The bronco-rider Bernanke will need to get very aggressive to turn things around from here.