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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: russwinter who wrote (12244)	4/20/2004 9:14:15 AM
From: gregor_us	Read Replies (1) of 110194

But it's Not Because of Wages or Employment, Russ. As I'm sure you agree. The "too much money chasing too few goods" that we are seeing now is a synthetic version of the classic textbook version. Millions remain unemployed and underemployed. Real unemployment is near 10%. America's wages are falling. Falling hard. Population growth is now overwhelming the economy's ability to create jobs. The employment gap is real. The synthetic inflation, however, can all be taken away this very afternoon by Alan Greenspan, with mere words. That's how synthetic is your "too much money chasing too few goods." That's how thin, it is. Were Greenspan dealing with a job and wage driven "too much money chasing too few goods" he would need to embark on a long, hard-fought campaign. You can't take the real version away so easily. Do you want Greenspan to lift the curtain on our OZ, this afternoon? Because behind that curtain is a Monster Deflation. Greenspan can actually "prove" this by hiking rates. It would all be gone in 2 seconds.

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