Two Years of Economic Fears Have Disappeared

Stock market is up exactly 100% since its March, 2009 bottom, and up 24% just since its intermediate-term low in October Kudos to central banks. The Euro zone debt crisis produced two years of fears that it would result in financial collapse and a severe recession in Europe that would spread to the rest of the world. But in November the central banks of Canada, England, Japan, Europe, the U.S., and Switzerland, took coordinated actions to provide liquidity support to the global financial system. In December, the European Central Bank finally succumbed to pressure and launched a program providing substantial additional liquidity to European banks by making unlimited, low interest-rate, three-year loans available to banks. As . . . → Read More: Two Years of Economic Fears Have Disappeared
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