Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: Tommaso who wrote (16287)	11/19/2004 11:18:49 AM
From: mishedlo	Read Replies (1) of 116555

FED is In a Bind Leading indicators down 5 months in a row, world economy slowing, US economy slowing and the market is attempting to force greenspan to keep hiking. (not to mention that Greenspan himself practically blew up the bond market today). Housing down 5 straight months in the UK and the FED has to know that if it overshoots the same will happen here. The weaker US$ is finally adding to inflationary pressures as well. But if housing goes, it all goes. Once again greenspan was gloating about beating deflation. We will see what happens when the housing bubble collapses after he hikes once too many. Interesting times ahead. More than likely Northern Trust will be talking about this in the weekly column tonight. Perhaps this was the catalyst that the party is over no matter what Greenspan does. Watch junk bonds. Mish

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