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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: Jim Willie CB who wrote (737)9/14/2003 9:33:13 PM
From: russwinter  Read Replies (2) of 110194
 
Wow, another great piece JW, you're on a roll. I've always felt Richebacher was a key thinker on this matter.

I have an additional fifth line of questioning for Wizard of Oz Greenspan should the opportunity arise. The Congressman should delve into the influence of "moral hazard". Question how guarantees of nearly zero interest rates, and threats to go out on the maturity spectrum with purchases (i.e: the infamous Berneke helicopter statement) might encourage participants to engage in dangerous, wild and unsustainable speculation (in the tri-bubbles: housing, stocks, and bonds), because of the notion that the "fed is backing them up".
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