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 (33978)	7/21/2005 9:37:58 PM
From: Jim Fleming	Read Replies (1) of 116555

Tommaso re source of funds "And if there is an effort to exchange all these other assets for treasuries, the result will be a collapse of equity prices and also a big decline in the prices of less secure bonds. A bond in actual danger of default can sell for pennies on the dollar, and bonds even of profit-making companies can be cut from par to half their value, when their interest rates go from 8% to 16%." This is the script for what will happen in the next couple of years IMO. It is not fun when you can't get a bid for a AAA bond and I've been there. Jim

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