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

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To: Mike Johnston who wrote (78100)	1/25/2007 11:55:24 AM
From: GraceZ	Read Replies (2) of 110194

Maybe you are right. Deficits do not matter I didn't say that deficits do not matter, don't put words in my mouth. I said they matter in the context of other income and asset values. Aren't you a B-school grad? Are you not capable of understanding balance sheet basics? As for Americans not producing something tangible, the US trades off the number one position with Germany as being the world's largest exporter of goods. And, we have a trade surplus in services. I produce something tangible every day (what I produce is increasing less tangible) but increasingly our economy is based on intangible products. As the real cost to produce goods falls closer to zero every day, the relative value of industries that produce goods also falls. We have to move to intangible products because this is where the highest returns still exist. Things like software, business services, banking and capital services, medical devices and drug patents things with a high value add component. We are moving to making things that haven't yet reached the commodity status that most consumer goods have.

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