Friday's stream of consciousness

For those of us who have been waiting for rising interest rates, this week was brutal. What the hell happened to 10y. yields this week (down around 3 %). It was a great week for bond investors/re bubble heads. I am now starting to understand that these are two head of the same beast. Who will come and slay this credit Hydra. There are obviously great opposing forces at play here. Who is in control? Who has the leverage? Killing this beast will not be easy. 70% of Americans are "home owner" (though equity is all time low). Although it may not be in our short term financial interest to bust this bubble, there is no doubt in my mind that long term it is a must. We cannot become the country of the United Real EStates of America. Then surely this empire will decay. As mighty China is emerging with huge industrial/intellectual capacity, this nation stands self-absorbed in real estate speculation. Real Estate as a college major? Are you kidding me? When house will become home again, and people regain their sanity (sobriety is common after losing money), perhaps we can start rebuilding our manufacturing base. I am sure we are up to the challenge. This is a great country. BUT! We must kill the beast!