No, we're not Japan.
We're not Japan because, what's your mortgage rate? Five and change. So, if it's 4%, you save money, right? Do you spend some of that money you will save? Damn, that will work!
Okay, the Fed can buy mortgages. They can make it work. We're not at zero, are we, on mortgages? No. So, we can go to 1%, 1.5%, 2%-- on that way, you're buying stuff.
~ David Tepper, president and founder, Appaloosa Management, CNBC's Squawk Box, September 24th, 2010