a quick and dirty analysis with NaviMap). In other words the time we bought ourselves was wasted. It will work well mostly for the emerging economies e.g., China, Indonesia.
I think we are all just unwilling to do anything and waiting for the situation to deteriorate further before something is done. There is too much conflicting interests opposing each other. Governments and regulators are caught by market players and angry people cannot assert their will yet. How all these will be resolved is anyone's guess. These rate cuts are not about pricking the bubble. It is about Main Street.