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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: bond_bubble who wrote (52874)2/6/2006 9:06:26 PM
From: John Vosilla   of 110194
 
"Robert Schiller, a Yale economist and author of Irrational Exuberance, warns that Mr Bernanke's focus on the Great Depression has trained him to fight the wrong war.

In 1929, house prices and commodities had been falling for several years, even if Wall Street was frothy. This time assets are on fire across the board.

"We are now in the late stages of the biggest real estate boom in US history, driven by frenzied market psychology. In the near future, this could put Bernanke into uncharted territory for economic stress," he said.

Indeed, the first ugly signs of stagflation are appearing as rising prices combine with slower growth. It might be more like Latin American bust. Mr Bernanke's armoury could prove useless against that foe"

telegraph.co.uk
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