The 64 Trillion Dollar question these days is who controls the dollar: The Fed? Or, the Bank of China?
While Greenspan may do the cooking at the DOLLAR CAFE, the rest of the world has to eat it! So far, China has been chowing down like a pig! While the Eurolanders have been sniffing and walking out!
Still, if the kitchen is filthy and ingredients are bad, sooner or later even China will find someplace else to eat!
The proof of the pudding could be if the G-Man raises rates substantially this year. Perhaps, all will be forgiven and forgotten, if you can get a 6% ten year bond. But alas, there is always the resulting bond plunge, which will alienate the OLD CUSTOMERS; even as new ones show up for some "fine dining" at the Dollar Cafe.
Like any business it takes two to tango: THE OWNERSHIP & THE CUSTOMERS.
STILL IT MAY BE TIME FOR GREENSPAN TO REVISE THE MENU AGAIN!
http://www.thestreet.com
