Fed's economic rescue attempts are actually working

Commentary: 'first solid increase in consumer credit in 4 years'

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Luxury Connect | Oct. 16-18 | Beverly Hills

The game of "Grecian chicken" flaps and clucks on, with Greece near default and likely to leave the euro, which would ruin its economy; and Europe withholding new money until Greece agrees to austerity that will ruin its economy.

The 10-year Treasury note’s yield needs no scary help from Europe to stay low. The Fed’s "Operation Twist," swapping short Treasurys for long ones, has since Nov. 1 kept the 10-year between 1.82 percent and 2.05 percent, and mortgages close to 4 percent. Zzzzzzzz.