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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: russwinter who wrote (3705)12/21/2003 12:36:02 PM
From: eddieww  Read Replies (2) of 110194
 
I left out that target for the magical disappearing Ms, but I think you are probably right up to a point. It's the old rule of what is good for the group isn't the same as what is good for the individual. The CBs try to act for the group and hold up the dollar, but the private sector is scared to keep a low-yield asset that is declining in value every day vs. their own currency. I just wonder how big a portion of the decline of the Ms could be represented since most of the foreign money would be in bonds, agencies and stocks, which aren't part of the Ms.

I still think that most of what we're seeing with the Ms is the result of many doing just what I did: I re-fied last spring for some cash-out, and spent that money over the summer remodeling my house. Others probably spent their accounts down by shifting into stocks or maintaining lifestyle.
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