“The Federal Reserve has kept interest rates at rock-bottom levels for three years already, and on Wednesday said it could keep them there for as much as another three years,” Deborah Levine reports for MarketWatch. Which raised the same questions in many people’s minds:
“How is it going to create more jobs?” [asked] Ken Jaques, credit and derivatives manager at Inform Global Markets, in a note Thursday… “It remains a mystery of just how this is going to help the economy and tame the unemployment beast. From what I can see, the Fed’s latest actions help no one but investors. How does artificially propping up share prices (like Apple’s share price needs propping up) help the general public. I find it hard to believe that the many of the more than 16 million unemployed in this country feel wealthier if the stock market goes up. I also find it hard to believe they are going to have more money to spend.”
Read more in the full article here.
MacDailyNews Take: Actually, with the amount of sharks continually trying to beat down the already incredibly undervalued AAPL, it does need “propping up.” Until Wall Street finally figures out that Apple at its full height will make Microsoft’s very best day look beleaguered, AAPL deserves all the “help” it can get. It’d also be nice if the SEC got off their fat asses and looked into the obvious manipulation that constantly envelopes AAPL.
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Apple shares hit new all-time high, remain undervalued – January 18, 2012