Six basis points off the 10-Yr Treasury yield, -1.5% off equity values. The S&P is where it was a year ago. Nominal earnings are 12% above what they were a year ago and 6.7% above what they were six years ago. 10-Yr Treasuries have half the nominal yield.
I really, really, really want somebody to give me a coherent and credible theory of what Ben Bernanke and Tim Geithner think they have been doing over the past four years.
