a stable gorvmneent that can meet its obligations without destroying the monetary base through excessive borrowing or blatant printing. As the two following charts show we done28099t have that at this time, suggesting the underlying problems have not been fixed. why are gov't interest rates so low? if what you say is true, why did investors pile into US debt even after TARP, the stimulus and every other alphabet soup program was well know?how can you say the underlying problems aren't fixed?1. consumer spending plunged and savings soared.2. we had one of the longest recessions in forever3. housing tanked like never before4. we had an epic stock market panichow are those not addressing the underlying problems.I used to believe that most of the housing bears were the smart money. now I am not so sure. I suspect many have a constant bearish stance and just happened upon a housing bubble by sheer luck. that and the fact that given time a bubble will form in any asset class.how can so many supposedly smart seattle bubblers still believe things aren't getting better. I get the sense that people think that things are actually WORSE after an epic bust.in 2108 they'll be writing books about 2008.I was as bearish as anyone, but the facts have changed. Rate this comment: 0 0

by Astrid 01:55:48 AM 2013.01.27