Why the bulls are running and the consumers are buying

Consumes and investors feel rich because they are rich.

Englund: Home values always go up except for one time in the last 70 years (englundmacro.blogspot.com)

Englund: En av de många saker jag inte förstår om aktie-och bostadsmarknaden (englundmacro.blogspot.com)

ZIRP and QE