But I'm a realist and understand the huge amount of influence that the Feds QE has had on the equities markets.
I realize that the markets are over valued and I'm not counting my chickens just yet.
Corporations have chosen to spend upwards of 40 percent of their profits on repurchasing their excess over valued shares rather than use that profit to expand in a way that would create jobs.
Its not because they're greedy, or " mean " or they hate Obama.
Its because they don't want to risk their principle in a economy thats been on life support for the last 6 years.
In a economy thats stagnant, creating part time positions WITH interest rates down to nothing.
Its a objective indicator of the TRUE health of the US economy.
Another objective indicator is the massive amount of Excess reserves sitting on the FEDs balance sheets.
Over 80 percent of all that new liquidity created by the FED sits idle.
That means QE didn't do what it was supposed to do and banks would rather earn .25 percent on their record reserves than risk their principle in Obama's economy.
Corporations and Investors are sitting on their wealth, hoarding it offshore and NOT pushing it back into the economy. Again not because they're big " meanies ".
Its STILL too much of a risk 6 years in.
So I'm not impressed by the lefts empty claims of a economic recovery. They LIE.
ALL THE TIME.
Dishonesty is a defining characteristic of their ideology.