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

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To: Jim McMannis who wrote (37353)	7/31/2005 1:48:07 AM
From: mishedlo	Read Replies (4) of 110194

I dunno if Russ ignores them but I agree with you 100% about the other countries sucking it up. Jim. Every damn one of us here knows that shit is going to fly apart sometime within the next 1-2 years. For all we know, it starts monday. The problem is twofold. 1) Timing: We are fighting enormous amounts of money that intend to keep this house of cards holding up in hurricane based winds and a fire at the base. Perhaps the reasoning is if it gets high enough , they can easily fight any drawdown later. Now since I have no FN idea who "they" is , and since I think that conspiracy theories in general are asinine, then I must be an ass. No matter whether I am an ass or not, money is pouring into malinvestments over the past few years at least as fast as they did in 2000. Only this time it is worse. People are consuming their only assets in belief that housing prices are a one way ticket up. I am furious that a combination of forces has allowed this to happen (FED, Congress, FNM, banks). I am not sure "allowed" is the right word. Planned debt slavery might be a better word. 2) Sequence of events: 98% of the people see inflation. 2% of us see deflation. People are borrowing and spending as if this is a one way bet. Are idiots rewarded that way? In that regard (as well as who the winners and losers will be in a deflation scenario vs hyperinflation), it is clear those in CASH and Treasuries (the wealthy) will benefit over the cash poor, home rich, equity rich middle class and poor in a deflation scenario. Most people NEED inflation. Do the masses get what they need and desire at this critical juncture? I think not. I think they get what they deserve for their foolishness. It will not be pretty. Mish

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