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

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To: mishedlo who wrote (24660)1/14/2005 10:34:59 AM
From: yard_man  Read Replies (2) of 110194
 
that the debt gets wiped out or repriced or somehow or other obliterated just seems a given to me -- I mean, what's the alternative? -- USD falling enough in concert with a wonderful economic expansion so as to allow payback?

the problem is not so much the debt, but what the debt has done to misalign the real capital structure world-wide -- across borders, across industries -- between private and public expenditures

AG didn't see a bubble -- well, perhaps it is fair that he couldn't see the extent of the bubble -- I don't think we know how bad the credit bubble really is until we see the aftermath
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