And it’s not “lots of people,” even outside of that. The money/power has been concentrated into fewer and fewer hands. That surplus money at the top (leveraged, on top of that!) is what’s driving all of the asset bubbles…including the bond bubble. The only question, IMO, is how long it can continue before it implodes. Speculators rely on other people to pay more for things than the speculators paid…who will be able to step up to the plate to relieve these speculators of their “investments”? It will be interesting to see who will be left holding the bag when all is said and done.
