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Non-Tech : The Woodshed
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To: nspolar who started this subject2/8/2004 2:08:07 AM
From: nspolar   of 60913
 
A good article by Bill Gross.

And a true vigilante, a lender who lends money not as a participant in some money management game or contest, but with the expectation of getting his or her money back in inflation-adjusted terms and then some, will demand that the growth of leverage cease and/or that its cost increase to reflect the increased risk. Either demand will force this economy to retreat. Risk markets will be at “risk” should we move towards this outcome. And too, Treasury interest rates may then ultimately fall instead of rise as reflation fails and debt deflation takes hold.

pimco.com

Take special note of that last sentence. Imho that spells collapse, or am I missing something.
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