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: Oblivious who wrote (71027)	10/4/2006 8:28:21 PM
From: mishedlo	Read Replies (1) of 110194

The inability to take on more consumer debt given that consumers are 3/4 of the economy (and probably 90% of this one) says that what is about to happen will NOT be disinflation. We HAD disinflation from 1980 to 2000 as evidenced by falling interest rates and commodity prices. The Fed defeated the first attempt to head into deflation by blowing the biggest bubble the world has ever seen in housing. I can conceive of no bigger bubble, nor can I conceive of any actions that would cause rising employment and rising wages. Next step deflation. That is what the treasury market is saying. 75 basis points inverted from FF rate and the 5 yr note. bloomberg.com Those that believe the stock market over the treasury market are the ones in denial. SERIOUS DENIAL. Oh the irony of saying that I am in denial. Amazing. Mish

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