Didn't you advocate low or zero interest rates, to recover from the tech bubble bursting, by stimulating housing, and other, investment?
But, weren't interest rates already rather low?
Haven't you advocated global markets to best guide investment behavior?
You can't pick winners, can you?
But, don't interest rates determine whether investments turn out good or bad?
With zero interest rates, how would you know a good investment, or a bad investment, if either bit you in the butt?
Put another way, if you can't pick winners, or losers, with a zero interest rate market, why have one?
(Answer: global markets have (faux) interest rates. Cf James Grant Porter discussion of Chinese RE market.)
Put another way, if you can't pick winners, or losers, with a zero interest rate market, why have one?
(Answer: global markets have (faux) interest rates. Cf James Grant Porter discussion of Chinese RE market.)
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