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

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To: LLCF who wrote (29179)3/23/2005 11:07:59 AM
From: John Vosilla  Read Replies (1) of 110194
 
When business sucks, everything trades WAY below replacement cost, so no one builds anything

Right now business sucks and they keep building. A great misallocation of capitl due to articially low interest rates and the desperate sheep placing bets where it has worked lately. The oversupply this next downturn should easily surpass the last downturn that we are both familiar with.
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