Now we have Win-Win Capitalism. It’s the system where no one loses. Since around 1980, investors have come to see capitalism as a benign force. It makes people rich, if they can only get enough of it.

The US dollar continued to rally to fresh two-month highs against the euro and other major currencies, as traders showed little willingness to hold onto dollar shorts ahead of year-end celebrations.

If Tuesday’s inflation data proves to be unexpected, the Canadian dollar is likely to respond immediately, though its reaction may be more severe in the case of an upside surprise.

The odds are higher that there will be continued selling early this week, although Toni Hansen can then easily see the market try to turn back around on Tuesday. She would expect things to start to slow down, however, as the week progresses and holiday trading continues.

This week John Mauldin worries about enhanced cash funds, an inflation rate over 4 percent, and the danger of the Fed losing what little control it does have.

Now we're blaming the Chinese for the increase in the price of Christmas trees?

With capital flows one of the main issues dogging the dollar, an improvement in the Current Account status could be of help to the dollar and may push EUR/USD further below the key 1.4500 level.

Despite the Nasdaq's losses, all three of the indices managed to hold those Wednesday lows Toni Hansen was looking for in order to maintain the daily pattern she's been following over the last couple of weeks.

Here come the central bankers, ready to ride into battle. But against what? Inflation? Or deflation? Against the unstoppable force, or the immoveable object? For the moment, they regard the artillery of deflation as the greater worry. So Bernanke fired a weak volley in that direction on Tuesday. The markets fired back, saying the Fed wasn’t using enough firepower.

If the CPI data prints event hotter than the already elevated market expectations, it may temper any further rate cut expectations from the Fed as the inflationary pressures may outweigh concerns about the slowdown in the US economy.