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

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To: jimmg who wrote (76376)	12/21/2006 8:47:24 PM
From: russwinter	Read Replies (3) of 110194

The Fed has conducted 7 coupon passes for $7.266 since Thanksgiving. That's about 15% annualized, so there is nothing technical or normal about this operation at all. Plus FCBs have purchased a record high $37.9 billion in US Old Maid Cards in the last three weeks. They are in a panic.Why is this necessary if the economy is in such great shape? Probably will just flow into oil, and gasoline prices, or to speculate on more Thai Baht. Causes more price distortions that encourages more excessive inventory building. Then the consumer you are so counting on will get a post XMAS hangover of higher fuel and gasoline bills, to go along with his latest credit card balance 2 by 4 head smack. The truth is that liquidity, the only significant weapon remaining in the central bank's arsenal as decision making moves to the markets, will not necessarily go where you want it to go when you need it to go there." --Martin Meyer writes in The Fed

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