To help pull the economy out of the 2001 recession the Fed then cut rates a total of 13 times, not stopping until June 2003, well after the economy was recovering and the 2002-2007 bull market was well underway.

FORBES: Roll Out The Bubbles, We'll Have A Barrel Of Fun (For A While)

To pull the economy out of the 2001 recession, hampered also by the 911 terrorist attacks, the Fed cut interest rates a total of 13 times, not stopping until June of 2003, well after the economy was recovering, and the 2002-2007 bull market was underway.

FORBES: Fed Still Blowing Bubbles?

But things have since changed, with that figure rising to 13 in December 2003, 26 in December 2004, and 38 in June 2005, the most recent date for which figures are available from the Cellular Telecommunications Industry Association, an industry body.

ECONOMIST: Text messaging