Everything Is Back To Normal – Banks Are Lending Again
Mixed in among popular world events happening this week like Britney Spears turning 30, the Chinese pig who can walk on his front legs, and a 46-year-old duck hunter in Utah who was shot in the behind with his own shotgun by his hunting dog companion, was all the irrational optimism and excitement surrounding the biggest rally in the stock markets since March 2009. Markets around the world rallied through a coordinated effort by the Fed, the (ECB) European Central Bank and four other central banks, to boost liquidity by making it cheaper for banks to borrow U.S. dollars. The idea is to get banks to borrow more money and then lend it out to households and businesses to “foster economic activity.” Even bank stocks rallied despite a credit rating downgrade by Standard & Poor’s. Yes, 15 major banks had their credit ratings downgraded on Tuesday yet their stock prices rallied on this plan to motivate banks to lend money to the little people.
Everything Is Back To Normal – People Are Shopping Again
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