[Low rates combined with loan guarantees and continued government spending are just what the doctor ordered. Deployed prudently over time, they should usher in the sort of business confidence that will lead to a strong expansion of credit to consumers and companies, increases in factory lines, growth in employment and the repair of family and corporate balance sheets.]
Oh, this guy is a lunatic. But that isn’t to say he is wrong about a 14,000 Dow, that only requires 40% worth of inflation over three years. No problemo.
People have to be secure in their employment before they are willing to spend. With double digit unemployment, the assumption that there is going to be a mass of consumer borrowing and spending to fuel this "boom" is so much wishful thinking.