Bonds and bubbles

So now anyone that said selling bonds is a Cassandra. Whatever. The housing bubble, was recognized by the whole world as a bubble--except of course, for Warren Buffett and Ben Bernanke--and look at the damage housing did to the economy.

So does that mean PIMCO's Bill Gross will remain unscathed as yields ratchet higher?

Oh no--we are in a deflationary environment--or so we are told, and rates will stay down here forever.

And now, the architect of the boom and bust, Benjamin Shalom Bernanke, will lead us to the promised land with low rates forever??

And with no damage to the economy?

Even when the bubbles burst?