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Fast, in part because the fed ben bernanke has been pumping trillions of dollars into the economy, keeping interest rates at all-time lows, near zero. and wall street likes that jamie: i imagine is that the right answer, though? absolutely not. there are a lot of economist who is say this is the bubble we are going to be facing this bubble at some point. but for now, we are seeing wall street saying, who cares about the cuts? they are not that big of a deal? you expect the curts to be draconian and that s what the white house has told us and the republicans on defense spending, on friday, a key defense index from philly hit an all-time high. it stheems wall street is not paying much attention. in terms of prices on wall street. if you take a look at a price tag. the price-to-earnings ratio, it s 14.7 to 15.7 right now. in the 90s in the internet ....