"The prices of assets in U.S. financial markets do not appear to be clearly out of line with the outlook for the economy and business prospects as well as the level of risk-free interest rates," said Fed Vice Chairman Donald Kohn in a speech at the Kellogg School today.
In other words, “I don’t see no stinkin’ bubble!”
You see folks, Fed governors are, as we indicated, out and about jawboning and whispering “sweet nothings” to investors. Also, Turbo-Tim was out telling anyone who would listen; US consumers can’t serve as the engine of worldwide growth. Silly boy! And here I thought Chucky the Consumer was on a roll for another sequel.
In the meantime, more logical Meredith Whitney disses the entire market as indicated in our videos section, "Bank Stocks: Too Far Too Fast?"READ MORE