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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: mishedlo who wrote (50182)1/19/2006 12:11:14 PM
From: GST  Read Replies (2) of 110194
 
<The busting of a credit bubble is the essence of deflation.
Period.>

That is patently false when the credit bubble is financed by foreigners. A credit bubble financed by foreigners creates a currency bubble (the dollar bubble) -- and when the credit bubble collapses there is no way in the world that the currency (the dollar) will buy more goods than it would before the bubble bursts. As the de facto global reserve currency, the dollar bubble is by far the larger bubble -- the mother of all bubbles. Your inability to account for the dollar bubble renders the rest of your analysis pretty much useless in my view.
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