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

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To: John Vosilla who wrote (87686)	10/15/2007 2:22:44 PM
From: GST	Read Replies (1) of 110194

The mantra of the day is "reality is what you pretend it to be" -- and there is a lot of pretending going on right now. If only we could live in a make believe world forever then this would be true. But reality is not make believe, and there are consequences for pretending when honesty would have been the wiser course. Reality always finds a way to reassert itself. And the reality for America is that we have put ourselves in the position where we will suffer a generation of growing poverty to pay off the pretense of wealth that we have assumed is ours for the taking. Some will blame the Fed. But the Fed did not do this -- we did it. The Fed is just a doctor meeting with a patient that wants to believe that the Fed can make him well, despite his two pack a day habit and a hacking cough. All the Fed can offer is morphine and soothing words -- beyond that there is no escaping reality. We did this to ourselves.

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