There isn't much time left on the clock. I'd say the Fed has less than 12 to 24 months before the next disaster hits, given the way the real estate and stock market bubbles have already been re-inflated. They won't be able to control rates much longer without losing control on the inflation wave flowing into housing and commodities (eg with oil now being 'normal' at $90). The next crash, which is inevitable, will be back breaking. It'll require the Feds to choose between over-funding the military and police state, or paying for social security and similar services.
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