The Epic American Credit and Bond Bubble Laboratory Message Board

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

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To: GST who wrote (51329)	1/25/2006 12:18:17 PM
From: mishedlo	Read Replies (2) of 110194

I have discussed this before and more or less agree with Shostak's definition of money. I know you will despise that so I do not want to go into it. It will just annoy both of us. I seem to recall Russ looking at numbers of coupon passes and concluding that the FED has tightened a lot. Perhaps that is a very good way of looking at it. Notice I said "tightened" as opposed to "tight". I do not recall his exact words. One could look at M1 I suppose. economagic.com M1 has gone nowhere even as credit has exploded. There was a record debt offering today in the junk bond market. The whole thing is nuts. I call it "a crisis of excess liquidity" Possibly something you would agree with. A credit implosion is all but guaranteed at some point. Mish

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