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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: mishedlo who wrote (37051)7/26/2005 10:59:48 PM
From: Mike Johnston  Read Replies (3) of 110194
 
Imagine 7% interets rates. Instant depression?

What would be wrong with that ? Much better to have an instant depression now than a depression of twice the magnitude 2 years from now.

And if the Fed raised rates to 7%, yes that would be painful, but at least it would ensure that the country would not need 14 % rates 2 years from now.

And the country would survive 7% rates, just as it did survive 15 % rates with Volcker, who despite death threats did the right thing and paved the way for prosperity of the 80's.
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