He had to though. If you look at GDP without refi, HELOC's and such shit since 01, you'll see that actually the GDP has been basically zero.
This past 5 years of "economy" was fueled by the bubble, HELOC's and shit. Now the decision is inflation or deflation on a fed level. There is no inbetween now.
No matter what, China will own approx 20% of the USA (they bought up the no-docs and a lot of conforming stuff. That is the current estimate, that will put the USA into a position where foriegners will own 40% of the USA.
Damn country sold it's soul for granite countertops, Escalades and big TV's. Very sad.
Yup, been 10 years overall, but 5 years of it were on speedfreak mode.
