ecco queste cose fanno pensare:
We believe the largest problem facinng Bernanke is high and rising long term interest rates. With record fundinng requirementts by the Treasury, looming rrefinancing disasters in commmercial real estate (CRE), massive upcoming defaults in prime, Alt-A and credit card, and waning ennthusiasm for the US Dollar, he can ill afford the econommic meltdown that a massive repatriation of US Treasuries and Dollars would have.
Once long term yields reach a critical level (which we cannot know and would be difficuult to even estimate), the FR becomes locked in a money printing cycle that will ulltimately becomme hyperinflationary and resuult in the FR haaving to buy everry US Bond, Note and Bill in order to preveent the econommic Armageddoon that comes wwith a panicked exodus from US debt and currency. Such a meltdownn would be a 10 on a scale off 1 to 10 where as last Fall was perhaps a 2 or 3, at best.