Everyone thinks they are Lake Wobegone investors
Reader comment on: Surowiecki and Lindsey on QE2
Submitted by Lyle (United States), Nov 29, 2010 18:12
Garrison should have a broker open in Lake Wobegone, since its likely that all the investors in the town get above average returns, since all the men are good looking ... and the children are above average.
More seriously this article suggests that we really have too much capital chasing to few good chances to invest, which of course was one of the root causes of the housing bust. So much capital became available to the mortgage market that they had to go hog wild to find folks to sell the mortgages to.
Perhaps we need 30, 50 and 100 year tips bonds from the fed to sop up the surplus capital.
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