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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: mishedlo who wrote (20817)10/28/2004 8:32:47 AM
From: russwinter  Read Replies (2) of 110194
 
If you are referring to the FED slo mo part, I don't disagree with Gross about the Fed either. However other sources (Asian CBs and offshore funds)
Message 20690391
set interest rates in the US, not just the Fed, and I see a displacement coming from there. Add to (*) the $46 billion the Fed has monetized in the last year and I can argue that US debt now has little if any natural (defined as non leveraged, non-"offical" investors) buyers, it all about money printing at this point.

(*) Japan 107.4 B, Caribbean (hedge funds and criminal enterprises), 30.8 B, UK 27.7 B, China 18.5 B.

Fed's October surprise, more cheap loans to buddies and apparatcheks to fuel Bubbles. Also about the only way to finance debt at negative real interest rates:

Permanent injections;

10-4: 1.19 billion
10-14: 996 m
10-20: 1.396 b
10-21: 802 m
10-26: 1.593 b
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