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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: yard_man who wrote (84700)8/8/2007 2:45:55 PM
From: patron_anejo_por_favor  Read Replies (1) of 110194
 
They can push rates up, but if Clowngress is dead set on printing the money and running the deficit, the money will get force fed into the system. Basically the noise coming from Washington amounts to an "implicit government guarantee" for subprime, Alt-A, IO, NegAm, you name it. The taxpayer gets hit with a walloping liability (it's the "socialize liability" part of the equation following the "privatize profit" orgy of the last few years). Gold likes a steep yield curve, and that's what we're gonna get. They've masked inflation this long, they'll do it a while longer (that's when they won't have any choice but to go to positive REAL short term rates.

In a nutshell, the noise from Clowngress yesterday trumped the Fed, not easy to do but with this bunch of morons, they did it.
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