Clown-Free Zone... sorry, no clowns allowed Message Board

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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: Andrew G. who wrote (95738)	4/18/2001 1:52:10 PM
From: pater tenebrarum	Read Replies (1) of 436258

wild enthusiasm for telco bonds?? have you looked at spreads lately? commercial paper markets are in disarray... the proof is in the pudding: look at a chart of total credit market debt over the past 30 years, and you can see the exponential expansion. and i keep telling you it can't be sustained...in the past five years alone, 9 trillion dollars were added to total credit market debt, and most of this went towards malinvestments, consumption and speculation. there are simply no cash flow generating real world assets to balance it out. you are proposing a perpetual motion machine, a.k.a. free lunch...there is no such thing. somebody will have to pay...either the borrowers or the lenders.

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