essentially being tied up and robbed right now. Banking houses using the corona to purge bad bets again.

But they had a decade where they could've purged a majority of the malinvestment by simply raising rates to an acceptable level. And all that would've happened is that the housing market would've cooled....which shouldn't matter to anybody because when you're just selling to buy a new house that doesn't matter. It helps you actually to be able to upgrade. And the stock market would've had more periods of trading sideways or down than it did. And you lose slice a little GDP in the process. But when you don't do that, you get into a giant mess when a crazy situation arises.