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Politics : PRESIDENT GEORGE W. BUSH
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To: AK2004 who wrote (491526)11/12/2003 5:00:17 PM
From: DuckTapeSunroof  Read Replies (1) of 769670
 
"simple, you said that bond buyers players are sophisticated and then that they don't understand such concepts as inflation."

>>> No! I DID NOT say that. I said that when they caught on to the build-up of inflationary pressure (market perceptions of the inflationary risk... because it is ALL about perceptions) that they would react, and react fast... being generally quicker/smarter than equity investors about the impact of such things.

>>> But I NEVER said 'they don't understand the concept of inflation' (that's ridiculous), and I never said they were 'sophisticated'... it's a word I usually won't use, as it's original meaning was 'clever liar'.

>>> Read my sentence again that you mis-read (but remember, 'catching on fast' is a relative term. It is only in comparison to another): And that will only work as long as the bond buyers don't catch on to the scam. / Bond investors - as a whole though - are more knowledgeable than equity investors. They'll catch on fast as soon as inflation works it's way through our system (commodity prices are already climbing fast...), and then they'll force long rates sky high.

"BTW GNP does not represent the value of the economy......"

>>> Never said it did... but it is a more complete measure than GDP.
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