Bs. By the way, I do believe that the current administration has reinflated the bubble by throwing 850 billion in TARP at it and backing untold trillions in debt bonds. I do think that the 1.3 trillion in commercial bad debt as well as the millions of homes not servicing their debt but still off the banks books does mean that we are in for a downturn at some point in the next 1-2 years. How bad? depends on how successful the fed is at throwing money at it, risking inflation and an erosion of foreign investors in dollar denominated assets. Hard to know how all of these factors will play out. Most economists really don’t have a clue, IMHO.
