ML-Implode News - Mutual fund outflows are another example of the costs of ZIRP -- "Bernankecide"

``The ICI reports domestic equity mutual funds had $8.7 billion of net outflows in the week ended 4/18/12, after net outflows of $1.5 billion the week before. Based on the first 3 weeks of April, outflows for the month would project to $21.4 billion, which would be enough to turn the indicator outright bearish...
... [this is] a red flag for the market, but there's another issue. This downturn continues the trend of small investor distribution that started in May of 2009, just a few months after the beginning of Bernanke's Zero Interest Rate Policy (ZIRP), which I consider the equivalent of financial genocide for America's elderly. I call the effects of ZIRP, "Bernankecide."

As their investment income dwindled to zero, elderly retirees were forced to begin liquidating not only their money market funds, but their mutual funds as well, just to meet everyday expenses. Each day that this outrage goes on, another elderly person becomes destitute, reliant upon the state, charity or, most often, their children for their support.

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Mutual fund outflows are another example of the costs of ZIRP -- "Bernankecide"