Unfortunately we are left with higher taxes and (when the economy picks up) higher interest rates. And those interest rates are going to be EXTREMELY high...mind you.
IF the interest rates pick up .. I suspect people will be even more interested in saving ..
"And those interest rates are going to be EXTREMELY high...mind you. "
What most people don't realize is that all that money that investors are getting for the bonds that Bernanke is buying is going into two places...
1. The highest returns that investors can find in commodities and emerging markets.
2. Into US treasuries for "safety"
Some of that money will find it's way into the US economy and will finally turn things for the better. Bernanke will look like a genius... for a while... Then as the US economy starts to really go into high gear all that money will come out of the emerging markets and be reinvested right here in the good 'ole USA... Interest rates will go higher so the money that was put into bonds will exit resulting in the collapse of the bond market bubble. With all the money chasing higher returns prices will skyrocket and there will be no way to pull it back in... The money is already out there... Bernanke won't get it back. Many say this is when we will have our hyper inflation... The cruelest tax of all on the middle and lower class.
The only way out of this is to stop spending more than we produce. Debt has to be taken down... People have to start earning their pay instead of simply demanding more money without providing more value. The constant reward for failure instead of success continues to make things worse... Not better.
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