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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Wyätt Gwyön who wrote (2159)3/15/2004 10:43:04 PM
From: russwinter  Read Replies (2) of 116555
 
<you also "thought" bond sentiment was bullish. i'd say "penny for your thoughts" but i don't want to overpay>

Fine, don't take my word for it, Market Vane is perhaps more unbiased, now 69% bullish consensus on bonds, hardly bearish sentiment.

<economy is characterized as being on steroids.>

Agree totally, what's that have to do with deflation?

<you think the consumer's ability to borrow in the face of record debt and the absence of real income growth is infinite.>

Of course I don't think that, but I'm concerned with their ability here and now to contribute (through use of easy money and credit) significantly to a major inflationary breakout. You might do a little more reading and study about great inflations though, their conditions and profiles. They don't require robust employment markets and consumer demand. I think that's the trap you are in here. There are many, many historic inflations where there was abject misery, and very poor and weak economic conditions (in fact that's the rule). Most of them have big debt loads. You guys go on and on about "income", and "jobs", but I see very little positive correlation between those variables and price stability issues.
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