Nothing the state does is temporary

Here's NC and Gillian Tett once again reading my mind.

We wondered ever since the Fed established and then repeatedly increased the size of its Term Auction Facility, which now provides $150 billion of support to the US banking system, how the central bank would ever be able to wind down this program. It certainly can't do it when the financial system is fragile, and banks will argue that the withdrawal will hurt their operations even when the economy is in better shape.

On top of this, you may see big political decisions to "save" the housing market, which could contribute to an extended Japan-style malaise.