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

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To: UncleBigs who wrote (66838)7/25/2006 5:56:06 PM
From: russwinter  Read Replies (2) of 110194
 
free mortgage money that allowed the average Joe to speculate on housing and withdraw equity to spend in the real economy.>

Now think this one through. Where do you think the "horse that pulls the cart" for cheap money comes from? Answer: from call girl influenced CBs who are distorting the market's risk premium. Also add the BOJ monetizing of JGBs, and the Bank of China freezing the yuan to benefit crony corrupitalist (new term, credit Rodger Rafter)
corrupitalism.blogspot.com
exporters, and you end up with a vast slew of grossly overpriced securities, with far too many held by "official" institutions.
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