Stocks edged up Wednesday after Federal Reserve Chairman Ben Bernanke said that the U.S. central bank had no firm timetable for cutting back on its bond purchases. Higher earnings for several major companies also helped stocks.
The US is in bad shape with subprime debt, but China's local governments aren't doing so well either
The market rallied late in the afternoon, with the Dow closing 14 points up
QE2 got a public rebuke from 23 economists, financial writers, and fund managers via an open letter to Ben Bernanke, chairman of the Federal Reserve.
Like Dubai at the beginning of last year, China is now reaching the peak of a bubble.