I don’t think JWM or I disagree with you on the fact that ‘They’ will try to hold rates down as long as possible. What the balance sheet chart tells you is that ‘They’ are almost out of the dry powder to make an effect on target rates. The bond chart shows you what happens when ‘They’ fail and when ‘They’ fail we as taxpayers will be paying dearly for their losses and real rates go to the moon.
