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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: mishedlo who wrote (279082)3/7/2004 11:36:35 AM
From: Mike McFarland  Read Replies (2) of 436258
 
The fed has not created jobs yet, what good will
it do to spend that last cut? Good politically
for the Bush administration though--one last
round of refinancing? It is like free money, I
feel like I should borrow some money and buy
a building lot somewhere.

If you can't make jobs, at least there is a
little happy speculation in the stock and bond
markets. Does it have to end badly?

And what about that PPI? How strange to have
this jobless recovery, but the only thing I
see that has moved up is the price I pay for
steak, gasoline, electricity. Property taxes
are up a bit, because apparently my house is
worth so much more now. So, when does that
PPI number finally come out--and will the bond
markets ignore it?

Pretty interesting stuff. I did a search for
stagflation here on SI, but did not really
find many posts. Started a position in Rydex
Juno...but so far, thinking I could get stopped
out pretty quick in the next few weeks. Ouch,
any chance the 30 year bond now drops to 4%,
I think I should not have dabbled in that,
which shorts the long bond--rates may not
finally bottom out until later in the Spring.

I suppose the seasonal nature to house
building and real estate could combine with
record low rates to finally manufacture some
jobs--if there is a last rate cut, that could
be perceived to do some good. Bush may yet win
this election--timing is everything.
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