Here is the latest investor newsletter from hedge fund manager Kyle Bass (h/t Zero Hedge). I have referenced Bass in previous posts as he really puts the big picture in perspective. Like me, Bass believes the systemic risk still remains in the economy. Everyone acknowledges that the last crisis was caused by excessive leverage and cheap money. So how can the problem be fixed by lowering rates to zero and flooding the economy with easy money?
While a long letter, it is beyond informative.