Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: gregor_us who wrote (1912)	3/12/2004 9:50:30 PM
From: Mike McFarland	Read Replies (2) of 116555

You will have to help out the newbie here, but what is the point of driving rates toward zero? Rates have fallen a lot already, and it seems not to buy the U.S. any jobs. Prices are up, real estate is up, I smell inflation. Why does the Fed not smell inflation? Six months ago I'd have believed the case for deflation. But so far I have not seen much evidence for deflation--with the exception of consumer electronics and the price of used cars. The price for services seems ever to climb. I'd have some remodeling done to my house, and some hardscape work to my yard, but for all the talk of high unemployment, nobody I contacted really seems to be hurting for work. At least, they do not call back or seem eager to give bids. I'm in Seattle--it is certainly possible that the booming housing market up here has everything out of whack. Cross the state, and I suspect it is entirely different in Spokane. I was talking to a fellow who follows the railroad companies--he said that they're running full and that, I think it was BNI, had ordered a bunch of new cars (?). I will have to look for the news on that, but this suggests to me the economy is not slowing down.

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