I think this is backwards. It was a looming crisis that no one could fail to see coming, yet no one was able to prevent.
I mean, this is logical right? There it is. What can we do? Nothing, but we've got to try. And of course, they manage to convince themselves that they're on top of it, but they not only saw it coming, but felt it coming on. IOW, it's denial.
who could have ever predicted a 10% of gdp deficit, no growth a HUGE spike in money supply and 1.4% ten year tb??
Never in my wildest dreams did i believe this was possible, but no one should think hat this is sustainable.
Milton friedman always said, 24 months after the money supply spikes, we get inflation, but in some sense, none is on the horizon, or the ten year rate would not be 1.4%
There does seem to be a grand plan afoot. Someone is watching out for U.S. equities.
yitbos