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Politics : Welcome to Slider's Dugout
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To: jim_p who wrote (6582)10/5/2007 5:04:38 PM
From: Crimson Ghost  Read Replies (1) of 50117
 
Jim:

Did you misspeake when you implied that interest rates are high today.

In reality they are very low and quite negative in real terms almost everywhere (especially using true inflation figures and not the phoney CPI numbers put out by the Ministry of Truth)

Low interest rates are the key force behind all the bubbles extant today.

The global financial system now is so leveraged that allowing interest rates to rise to levels that would provide savers even a minimum real rate of return would trigger a grizzly bear that could cut stock averages by 30% or more.

Not until inflation gets so bad as to be a greater threat to the system than a grizzly bear will interest rates be allowed to climb to reasonable levels IMHO.

By that time POG probably will be a multiple of today's $740.
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