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I find it amusing that your fallback position is that I was right all along, but my predictions were too late in coming.

Last year you were saying that real estate was solid, the bull market would go on forever. How did that turn out, TP?

Sure, the fed can keep the addict strung out for a long time, say, with 1% rates after the dot com bubble exploded.

But all addicts die in the end, preferring addiction to the pain of withdrawal.

"Credit expansion can bring about a temporary boom. But such a fictitious prosperity must end in a general depression of trade, a slump."

"True, governments can reduce the rate of interest in the short run. They can issue additional paper money. They can open the way to credit expansion by the banks. They can thus create an artificial boom and the appearance of prosperity. But such a boom is bound to collapse soon or late and to bring about a depression."

"Credit expansion is not a nostrum to make people happy. The boom it engenders must inevitably lead to a debacle and unhappiness."

"What is needed for a sound expansion of production is additional capital goods, not money or fiduciary media. The credit boom is built on the sands of banknotes and deposits. It must collapse."

"There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved."

~~Ludwig von Mises

You can listen to Ludwig Von, or to John "In the long run we are all dead" Maynard Keynes.

The long run is here, TP.

I find it amusing that your fallback position is that I was right all along, but my predictions were too late in coming.

If you predict a recession and it takes 3 years to arrive, you're right? If it takes 7 years? 10 years? That's funny.

I predict the Cubs will win the World Series. Eventually, I'll be right. So what if it's been 100 years since the last one. LOL!

Last year you were saying that real estate was solid, the bull market would go on forever.

You'll have to show me where I said that.

The long run is here, TP.

We're all dead? Are you predicting a new great Depression? Your quotes from the 1920s sure sound like it. So what is your prediction as far as GDP? Will it shrink 10% from the peak? 20%? Put your money where your mouth is. Let's see a solid number attached to your prediction.