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: reaper who wrote (225163)	3/4/2003 10:35:02 AM
From: patron_anejo_por_favor	Read Replies (1) of 436258

<<goods prices are set by the cost of marginal production, not by currency regimes; and believe me, with all the excess productive capacity in the world right now the cost of marginal production is exceptionally low, and frankly more likely to FALL than to rise.>> This only continues as long as marginal producers stay solvent. If inputs from basic materials (read: CRB) continue to rise, a lot of this production goes to capacity heaven. <<'surprise' is going to be that the blow up of that trade will be brought on by LOWER rates that are indicative of deficient demand and earnings power, not HIGHER rates which is what everybody else is counting on to kill the housing market.>> Care to elaborate on this a bit...low rates are going to blow up the mortgage trade? I think excessive supply of mortgages and of government debt will do it, but I guess we can work lower in the meantime. Of course, just as you blamed rising oil and commodities on the war in Iraq, I can blame the recent rise in treasuries on "safe haven flight" caused by the "war" in Iraq...na, na, na, no tap backs!<G>

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