In March 2009, the S&amp;P 500 index was down to 660, earnings per share (EPS) of US companies and banks had sunk to a financial-crisis low, and price/earnings ratios were in the single digits. Today, the S&amp;P 500 is more than 100% higher (hovering near 1,430), the average EPS is close to $100, and P/E ratios are above 14.
首先，考虑到以往的宽松政策都是在股票估值和收益都更加低的时候推出。在2009年3月，标准普尔500指数下跌到660点，美国企业和银行的每股收益率都降到了危机以来的最低点，市盈率降到了单数。如今，标准普尔500指数已经翻了超过一番（接近1430点），平均每股收益率约有100美元，市盈率超过了14。