[quote=jpinpb]Thomas M. Hoenig. He’s the president of the Kansas City Fed, and he’s voted against Fed policy at every one of our meetings this year. He thinks this whole creating-$600-billion-out-of-thin-air thing is going to do more harm than good. He also thinks that all this money we’ve pumped into the economy could inflate another bubble and create widespread worries about inflation. That could lead us right into another crisis
When one considers the fact that the stock market is again where it was in 1999/2000 and 2005 (both of which I would call very bullish and “peakish” periods), and this is supposed to be “The Greatest Recession Since the Great Depression,” I’d say the bubble is already here. Not only stocks, but look at bonds, commodities, even housing (what had yet to fall before all the Fed/govt’s intervention seized everything up)…everything is UP, UP, UP!!!
The bubble is here, right now, and it’s a doozy, IMHO.
