08-31-2012, 08:55 PM
cbelt3 wrote:
This is one hyper-complex piece of documentation. Thanks for sharing. After a brief skim, it appears that the Fed has successfully reduced their long term liability by reducing the long term yield of their debts. In other words, the interest rate that 'we' pay for this debt ?
I'm not sure how this fits with the 'national debt' concept, which is more of a political football than an actual idea.
Unfortunately in dealing with documents replete with the arcane jargon of specialized thinkers, one must usually defer to the opinions of such thinkers. If Wall Street thinks this is a godo thing, then.. perhaps it is.
Yeah - 24 pages worth.
Jared Bernstein's take on it is pretty good I thought.
http://www.huffingtonpost.com/jared-bern...47649.html
What is interesting is that in order to prevent low interest rates from creating another asset-bubble like the one that killed us in '08, we need strict financial oversight as provided with Dodd-Frank. And of course, a President Romney wants to repeal that.
We've either learned the lessons of this recession, or we haven't.
We'll see.