Easy Edition

Last night Australian rates were cut to 3.5% on China concerns, shares rallied as more cuts are expected.  The Australian  This morning the Bank of Canada held rates steady at 1%.  Financial Post

Time for the Draghi and Bernanke puts?  Humble Student of the Markets  The time has come, Mr. Bernanke!  Sy Harding  Dennis Gartmans says 100% chance of further Fed easing at CNBC.  Goldman, Morgan, and B of A all think it’s coming according to Business Insider.  Looks like the Europeans are having meetings, Fed heads have speeches with Bernanke testifying Thursday.  Meanwhile, government budget deficits approaching 10% of GDP are not enough, more is required to keep the deflation boogeyman at bay on Bloomberg.  Steve Liesman thinks somebody should create a $2 or $3 trillion fund at CNBC.  The Fed’s Fisher questions the need for more action, but he doesn’t get to vote via Reuters.

Greg Weldon on the Solution Illusion at John Mauldin.

Be careful out there.  Trillions being bandied about by mainstream journalists?  We don’t know the path ahead…