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

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To: GST who wrote (76506)	12/23/2006 2:36:01 PM
From: jimmg	Read Replies (1) of 110194

Long before the US loses it's education and innovation edge, the bottom 75% will become so debt saturated that they will get deathly ill. We can then say goodbye to the illusory net worth based upon the price that the last idiot paid for an asset. I don't know when this time will begin but I'm watching for it closely. The one thing about Nike's earnings that has me thinking is the performance at their Niketown stores. They were flat. These stores are inner city in their most profitable demographics and full price retail. They never discount. Flat comps tells me that the willingness to pop full price for the latest product is diminishing. This consumption party reminds me of a line from a movie made in 1929..."spending your last 2 bits puttin on the ritz". We'll have bust. I have no doubt about that. Deflationary, inflationary or when, I don't have a clue but the longer things appear stable the more unstable they become.

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