The common assumption is that interest rates are going to go higher. Just like the common assumption, for many years, that you couldn't lose in the real estate market. Sometimes we have to consider the unconsiderable.
It's vital that we understand the truth about the American economy. How did we go from the Great Depression to 30 years of Great Prosperity? And from there, to 30 years of stagnant incomes and widening inequality, culminating in the Great Recession?
I propose all politicians be issued jumpsuits on their day of election -- a patch will be sewn on the suit for his or her every sponsor. I am sorry for the inconvenience. But if America is for sale, I want to know who is buying.
Rather than helping to finance the day-to-day and investment needs of American business, it takes neither competence nor vision to borrow at the Fed window and use near costless funds investing them in emerging markets.