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You're right, it's a circular argument.

I would agree with it ONLY as an emergency measure with a very finite time horizon. Of course, I think that the skeptics amongst us knew that those "emergency measures" back in 2008 would turn into the status quo and I have no idea how the hell they can raise rates from this artificial zero...

uhh, yeah huge risk of loss in purchasing power. And 30 years of it is no small matter.

That is an important point...but more importantly I don't know of many people who are looking to lock in on a 30 year at 3% or whatever it was prior to the lift off. Most of the interest is on the short end and those rates are atrocious to say the least. [yeah sure it's wonderful for all those...

Ask yourself (and count on your fingers while you're at it) how many times you thought (or the mainstream media hacks gleefully reported it as such) that some acronym'd entity was going to go in and essentially solve the Eurozone crisis in the past 5 months...EFSF, ECB, IMF, Fed, China, etc...

This country is basically ungovernable. So many conflicting interests, each of them with their hands out wanting their own freebies..whether its corporate welfare, social welfare, free housing, free food, free healthcare, union pensions, defense contracts, porkulus lobbying, etc, etc... The...

Are you generally supportive of ZIRP or do you think it is more harmful than helpful?

You'd know this stuff better than I do, but could you give me an example of what the creditor is pledging as collateral for the Repurchase agreement? A few short months ago I went thru a number of US MM funds to see what they were holding...Most of the big French banks were in there.

I noticed this awhile ago and yet each and every day we hear that US banks have negligible exposure to this mess. Many of these money market funds simply cannot return ANY yield if they want to charge a nominal management fee and even with their exposure via REPO's to these foreign banks, their...

Greenspan and Bernanke.

FDR is out of office...but the mess he created and left behind will take decades to repair. Lyndon Johnson is out of office...but the mess he created and left behind will take decades to repair. Nixon is out of office...but the mess he created and left behind will take decades to repair...

Reason and logic are rare commodities around here. I've said the same thing about the "less bad" measuring stick a few times, but the real zealots around here simply ignore it and continue their shilling and trolling. It's just more of the same dysfunction of a hopelessly corrupt two party system.

Idle speculation, but it probably coincided with the end of the QE2 trade and the onset of the headline driven market (with all of the news about the Eurozone crisis).

377 is a difficult nut to crack. Unfortunately, I suspect he falls largely into the neo-con crowd, as does Trader666. They both despise Ron Paul as do all neo-cons.

Not a snowball's chance in hell that happens. The current group of political imbecile's wouldn't be able to balance a modest checkbook, let alone an economy this diverse and complex. I'd also argue that almost all estimates of growth relative to debt are hopelessly skewed to spin a positive...

You're worse than Steve Liesman. At least he gets paid to be a shill. You're a pathetic Fed apologist getting raped for no compensation whatsoever.

Exactly...which is why the Yen carry trade persisted for so long. Japan has held rates at or near zero for 20+ years right?

Correct and he often implies that. The way things are going with the Federal Reserve Board, we're moving towards a larger group of "doves" who are on board the whole "unconventional measures" bandwagon. As if five years of ZIRP weren't bad enough...

That's right. The elite are in favor of de-population. Straight from the horse's mouth: http://www.youtube.com/watch?v=Z_rsVcAnnnw http://www.youtube.com/watch?v=ClqUcScwnn8&feature=related

Ummm, not in a million f'ing years do I believe a word of it. Not to mention that there are quite a few states with strong unions that are literally creating a sinkhole that there is no way to either tax or grow out of.