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Perhaps because the bench-mark Ten-Year Note yield has dropped by 55% during the last three years and now offers a yield of just 0.6%.

MACR 12460. Pilot killed.13440 (307th FS, 31st FG, 15th AF) in landing accident at San Severo airfield, Foggia, Italy Feb 22, 1945.Pilot survived, aircraft badly damaged, unknown if repaired.13442 (4th FS, 52nd FG, 15th AF) in taxiing accident at Madna airfield, Foggia, Italy Nov 4, 1944.

This means that the Fed will stop tapering sometime in the very near future -- probably in the summer or early fall -- and then they will feel compelled to launch QE V.

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South Korea cut interest rates by 25 bps and Brazil cut rates 50 bps to a record low last week; joining China, Europe, England and Japan in an aggressive attempt to raise asset prices.

However, the over 100% gain on the Nikkei Dow in just over two years doesn’t bother Ben Bernanke one bit either.

But the bad news doesn’t end there; growth in factory output slowed to 6.4 percent in the first quarter from nearly 10 percent in December.

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And importantly, the Fed won’t be raising rates into an environment of robust inflation, as in the norm: instead, it will be raising rates just because it has become exceedingly uncomfortable being at the zero bound range for so many years.

They operate within insolvent governments that need to have their central banks purchase most if not all of their debt.

MACR 42663538 (94th BG, 333rd BS, "Ten Knights In A Bar Room") shot down by Lt Jacob Schaus in Bf 110 of NJG 4/4 1/5 Km S of Chenay, France Oct 4, 1943 on Emden raid. low serial number mosin nagant

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Returned toUSA and put on civil registry as N551D with Erickson Group, Beaverton, OR14829 (339th FG, 503rd FS, 8th AF) shot down by friendly AAA by mistake near Metz, France Nov 18, 1944.

This is the direct result of the 96 months of nearly free money from the Fed and the combined $15 trillion increase in central bank balance sheets since 2007.

Of course, it makes sense to adjust the jobs data for hiring and firing around the Christmas season.

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