Viva la asset bubble! The banks are flooding the stock market with free cash given to them by Bubble Ben and taxpayers. When the music stops, people are going to see that the stock market is inflated beyond belief and not based on real growth. Just another asset bubble.
Bubble Ben is INSANE.
http://finance.yahoo.com/news/Bernanke-Rates-to-stay-low-rb-3583265900.html?x=0&sec=topStories&pos=1&asset=&ccode=By Pedro Nicolaci da Costa
WASHINGTON (Reuters) - A moderate U.S. economic recovery is likely to warrant very low interest rates for a long time, Federal Reserve Chairman Ben Bernanke testified on Wednesday.
Refusing to rule out the risk of a "double-dip" recession, Bernanke told lawmakers inflation is not an immediate concern, giving the Fed room to maintain its highly stimulative policies.
"The Federal Open Market Committee has stated clearly that they currently anticipate that very low, extremely low rates will be needed for an extended period," Bernanke said in response to questions from lawmakers of the Joint Economic Committee.
However, he stressed that this commitment was based upon certain conditions in the economy, including underused productive capacity, high unemployment and anchored inflation expectations.
Read more...
http://finance.yahoo.com/news/Bernanke-Rates-to-stay-low-rb-3583265900.html?x=0&sec=topStories&pos=1&asset=&ccode=I though we needed to encourage more savings in order to achieve real, sustainable growth? :shrug:
How is this possible with interest rates at near zero? Interest rates at zero aren't benefiting average Americans as the banks aren't lending out the money. They're keeping it to themsleves and inflating the stock market.
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