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: yard_man who wrote (61514)	5/20/2006 10:11:16 AM
From: UncleBigs	Read Replies (2) of 110194

Once again, I disagree with Noland's analysis this week. First, it's not just a dollar liquidity bubble that's driving the markets. It's a psychology bubble. Extreme risk taking has been rewarded for so long it is only encouraging more risky and larger positions. U.S. dollar money supply is growing slower than the yen, euro, loonie, or just about any other major currency. Second, Doug completely ignores the real economy. He believes that the housing bubble can burst, consumer spending can plunge and the financial sphere can party on regardless. I disagree. I don't think it's going to take a U.S. dollar crisis to pull in risk taking. The risk taking will cease when those taking the risks decide to pull in. They all believe they can beat the next guy to the remaining chairs before the music stops. The scramble for chairs has begun this past week.

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