Bill Maher finally sniffed the smelling salts:In the broadcast Rachel says, "As Bill says, money is cheap".What do Rachel Madow and Bill Maher know about the cost of money and the yield curve? What do Rachel Madow and Bill Maher know about the future cost-of-funds and how the U.S. Federal Reserve will accomplish rolling its’ massive debt in future interest rate environments?
Cheap and easy money (which inflated home prices in-rounds, and was serially loaned against ever escalating inflated real estate collateral) is the narcotic that caused the bubble we are currently attempting to work through.
For a more educated and experienced view of the cost (and risks) of the U.S. Federal Reserve’s cheap money policies: http://billsplace.posterous.com/the-feds-hotel-california-monitary-policy-20592