“If you think that the fed under the control of BB will raise rate in the face of recession/depression, then the last several months must have been a dream.”

You just proved that you don’t know what you are talking about. If Bernanke doesn’t begin to raise rates sometime in the next year or so, then bond market will do it for him at the cost of the housing market and economy in general. Sorry, but bondholders and creditors like to get paid or they get really upset.