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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: mishedlo who wrote (13124)10/8/2004 10:36:21 AM
From: Wyätt Gwyön  Read Replies (2) of 116555
 
i am familiar with all these arguments, although your i-disagree-100% "argument" is not among the more convincing of them.

what it comes down to is that the position of the long-bond holder must be that the value of USD is indestructable in the face of ever-declining yields/ever-rising trade & fiscal deficits/ever-expanding debt mountains, and that the compassion of foreign CBs for US toilet paper is infinite. just look at the bitchslapping USD is taking today and that argument is turned on its head. if you believe that, good luck.
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