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Originally Posted by Emu
Why is that, exactly?
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Low interest rates, combined with rising trends in stock prices and consumption, makes it easier and raises incentive for small entrepenuers to take loans to start up or expand their business, which creates jobs. Small businesses, rather than large businesses, are the real job creators in the market - this is why the Bush administration loosened taxes on the top 2% while largely ignoring the middle class. Most of the market's bull run is actually thanks to Mr. Greenspan, though; the effects of taxation on the economy is much more long-term and abstract.
Of course, this is actually a bad thing, because the market tends to act as a slippery slope and will necessarily force Greenspan to raise reserves and interest rates along with it, causing a recession... but I digress.