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

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To: bond_bubble who wrote (48220)	12/27/2005 1:05:34 PM
From: Ramsey Su	Read Replies (1) of 110194

no, I did not read Noland. For some reason, I find his format quite difficult to follow so I am not a big fan and infrequent reader of his bulletin. Once again, I think you raised a lot of good points, demonstrating the complexity of the global economy today. It is impossible to compare job migration of 1730s to that of today. If you give it some thought, that is another demonstration of how the western economic models dominate today's analysis. There is an almost colonialistic mentality that seldoms take the position of the other side. Think about this the next time you read any official opinion. The tone is always - "they should do this, they should do that ....." without much regards as to whether it is good for them or not as long as they are good for us. Under this old western economics, the mentality is the new worlds will react as per our expectations but seldom from their perspective. Gold and the British pound in the 1930s are excellent examples. Back then, the world was pretty much Europe and a bunch of their colonies or ex colonies. US was somewhat insignificant. Inflation/deflation issues can be addressed in that tiny sector of the world because the rest of the world really did not matter that much. Before I digress too much into history and geography, allow me to try to narrow this scope of this discussion to monetary policies today. I am of the opinion that they no longer can effectively create the text book results. Can raising rates stop inflation? Can lowering rates stop deflation? We can print more money but how can we get that into the right pockets? Unfortunately, we have put ourselves in a very difficult position with the twin deficits. In addition, we are trying to maintain a standard of living supported by first the equity bubble followed by the credit bubble.

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