Thursday, September 13, 2012

Never forget...

Given that the markets exploded today after the Fed stepped in to buy more Dubya-style bad mortgage debt, helping the S&P to close at its highest level since 2007, I think it's worth remembering that Saturday's the 4-year anniversary of the collapse of Lehman Brothers. And it's worth keeping in mind where we were 4 years ago, and how we've been slowly working out way out of the hole we were slammed into in the Great Recession. Not that I think Obama needs much help for the election at this point, but in case things get closer in the next 8 weeks, keep this picture from Matthew Wuerker in your mind. Maybe it's a bit negative on Barack (note the garbage can), but we can never forget how we got here and why it happened, and why we can't go back to it again.

Even the Fed knows that jobs and economic growth are a lot more important concerns than any inflation right now, and with 10-year notes at 1.76%, the market seems to have no real problem with this.

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