SPDR S&P 500 (SPY)

[imiloa]

i'm also in the camp that feels a rate hike will cause a drop.

banks and corp suddenly having interest charges on
trillions in outstanding carry trade debt
will directly affect the next earnings season (jan/feb).
and billions in interbank debt would suddenly have associated costs.

and i do feel the cry wolf mentality is at play.
eg: i don't expect the fed to raise the rate
due to the debt situation noted above.

nutshell, raising the rate would cost
a lot of very powerful people
a lot of money in interest.

so, imo, they will kick can as long as possible
hoping for some other miracle to stabilize markets
while the banksters continue to enjoy
the free money flowing into their off-shore tax shelters...