Wednesday, July 15, 2009
'Ben Bernanke has been the market'
Reader No. 1 also sends in yet another excellent Andy Kessler piece on the economy. I still can't believe we're talking about fixing the damn banks. The adminstration is off spending money here, there and everywhere -- and the same underlying problem remains. ... P.S. - Note the accompanying chart that shows how the Dow tracks the money-supply. Pretty persuasive evidence that it's the Fed, not the economy per se, that's been driving stocks.
Reader No. 1 also sends in yet another excellent Andy Kessler piece on the economy. I still can't believe we're talking about fixing the damn banks. The adminstration is off spending money here, there and everywhere -- and the same underlying problem remains. ... P.S. - Note the accompanying chart that shows how the Dow tracks the money-supply. Pretty persuasive evidence that it's the Fed, not the economy per se, that's been driving stocks.
