No one wants what anyone can have. Such is the case with free-flowing injections of money into the financial system.
Cash is trash, after all. It's easy to come by, yet has little redeeming value for those who hold it.
The liquidity curse is the newest, coolest way to explain the rally in equity prices. Frustrated by low returns in CDs and Treasuries, investors will eventually give up and pour their money in the stock market. The result, according to pundits, is a nice steady rally in stock prices.
