Stop making so much sense CAR. I am drinking the same tea as well.
I guess I don’t quite see the end of civilization but I do see high rates and a lower quality of life. I don’t see us waving a magic wand and all of this just going away in a few years. Eugene and I debated that in another thread and he felt that our situation is not as dire as Japans was during their crisis. I am not as confident as I watch oil hover near the century mark, gold pushing 1400 smackers an ounce, and commodity prices rising all over the place. Clearly the world order is changing and none of these more large scale pieces of the puzzle were in place when Japan had their crisis. Oh and lets not forget those nice little entitlements for which we have not discussed, or the fact that the fed has been monotizing debt. So when rates do go up, anyone wanna guess what happens to the feds portfolio? Lest we also foget the status of most of the state and city budgets within our country?
