Podróż balonem ...długów
/ 178.36.47.* / 2012-02-08 10:04
US consumers will get increasingly more and more in debt as they use more debt to pay of credit card interest, leading to ever further cash injections to keep asset prices higher to give US consumers the illusion that they are wealthy, so they spend even more, and so on. Just as Bernanke is talking about QE, the US consumer is actually saying it is time to tightening. Needless to say, good luck with that. Congratulations Ben - by exterminating US savers, you have managed to reflate the consumer credit bubble as for the 4th month in a row, nobody is deleveraging, even as the US government continues to add about $140 billion in debt each month. The most epic credit bubble collapse ever is coming fast, and this one will be at ZIRP, which means that even the smallest rise in interest rates will finally and mercifully end it all.