THREAD: on.wsj.com/3hHsJHl you might not think so, but this is also part of the #QE side effects. Artificially suppressed rates defer costs way after an incoming administration bent on wayward spending has come and gone. (/) @bondstrategist @nglinsman @Halsrethink
on a practical policy level, #QE is akin to trying to solve your house bug problem by liberally spraying carpets with breadcrumbs. do YOU eat bread? sure. But that's no reason to behave like that.(/)
But the best is for later. There is a feedback loop where through higher taxes, regulation and legislation, money must be kept in political hands, be they "private" or directly public. Ladies and Gentlemen here's the deal:(/)
#China will have no trouble exporting its social model overseas.... because it's been here already for decades. What China can sell is a "no return" policy, its repressive apparatus to make sure of no Prop 101. @BaldingsWorld
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