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

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To: russwinter who wrote (23570)	12/19/2004 11:13:24 PM
From: SouthFloridaGuy	Read Replies (1) of 110194

<<Rates aren't being set by Adam Smith free market forces>> Disagreed. Just because the majority of people don't think what the Asians are doing is rational, it doesn't mean that they cannot continue to do it so long as they have excess saving or excess F.D.I. I agree with Mish. The endgame is a huge recession as the dollar is becoming somewhat undervalued to Euro, Sterling and Aussie. The path of least resistance will force Europe to compete with Asia in maintaining a "cheap" currency. That means lower long rates in 2005, a flattening yield curve, and a massive recession in 2006. The stock market, of course, will probably roll over sooner.

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