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

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To: russwinter who wrote (6648)	1/31/2004 10:10:39 PM
From: yard_man	Read Replies (3) of 110194

is FF too low now?? boy, it is almost a nonsensical question -- it's like an unwed mother facing some difficultly in coming with the funds to see her son through his second year in college wondering if she should have used birth control ... <g> The damage has already been done by rates being excessively low for years on end -- you could probably trace it back to the savings and loan crisis for starters ... but a lot of others might go back to Nixon closing the gold window ... still others would go back to FDR or even further A rise in rates now would be cathartic to be sure and might get some of the nastiness started a little sooner -- but the damage has been done. Colllapse in prices supported by debt IS the hurricane -- rising input and commodity costs now, protectionist talk, wanton fiscal stimulus -- these are the pickup in the winds and choppy surf that you see BEFORE the hurricane.

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