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Politics : Dutch Central Bank Sale Announcement Imminent?
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To: sea_urchin who wrote (21079)6/5/2004 7:45:11 AM
From: mcg404  Read Replies (2) of 80945
 
Searle, Hi! Hope you've been well. Have you enjoyed watching the world go crazy lately?

<the whole purpose of the debt -- which is social control, pure and simple...it is backed with something even more valuable --- human flesh and blood!> I could not have said it better myself.

re: roach "households have become wise in the ways of sophisticated balance sheet management... long duration liability structure...upside of the rate cycle...policy normalization" Yeah. I'm sure J6P considered all of this, and more, when he did his refi. (g)

But i think roach is focused on the wrong problem. Don't most overly-indebted consumers HOPE we are at the point of "40-year low" interest rates? (I would be if i were one.) Don't they WANT an inflationary cycle to reduce the burden of their debt and inflate the value of their asset? While the first wave of foreclosures might wipe out the recent ARM-a-philes, many of them were probably just 'renting' anyways and can just clear the slate with (another?) bankruptcy. But then second wave starts to hit the moderately fiscally responsible, fixed-rate-indebted group...and then the Japanese problem? Who knows...but plenty of pain all around...the only part that seems certain.

john

ps. been reading orson well's '1984' (again). Whoa! He nailed it. unfortunately.
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