Dial Back the Date, McFly!

I’m wondering if our decade long credit bubble chasing real estate isn’t rooted in the Fed’s moderate easing pre-September 11, 2001 and the girly man reaction that the Greenspan Fed had post-September 11, 2001.

In looking at the Fed’s reaction to the attack, it would appear that the groupthink within the Fed dictated a “cheap money for as far as the eye can see” strategy.  Then, like a pathetic rookie drug dealer, they started using their own dope and got hooked.