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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: russwinter who wrote (8004)2/13/2004 11:00:42 AM
From: yard_man  Read Replies (2) of 110194
 
oil is different -- I do think they will -- I have never differed with you on some prices going up. I have always thought necessities like food, energy -- transportation -- would all go up. The question is what will be the overiding force economically -- it will be falling asset prices -- housing in particular -- we can have a severe contraction in economic activity (I think one has already started) and higher prices for our "immediate" needs. This will be exacerbated all the more by falling asset prices.

But energy is an input to msot everything in the economy -- it will be a profit squeeze, because much of consumer demand IS ELASTIC and related to ever increasing asset prices and people keeping their jobs. There won't be any pricing power for many items because of the "demand response."

You'll see by the end of the year, what us stoopit "deflationists" have been talking about.
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