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

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To: Tommaso who wrote (90083)	1/4/2008 11:30:34 AM
From: pogohere	Read Replies (1) of 110194

"I state it so strongly because there is just no case whatsoever for deflation in the US or anyplace else for that matter at this point in time, and the fact that it comes up so often shows how easily people can get confused. Recessions happen all the time. Deflation doesn't." Message 24181369 The deflation that concerns me is the worthlessness of all that paper the big banks and institutions carry on their books as if that toxic waste had value. Does that make me a psychologist or a realist? There's a soupçon of cognitive dissonance here with a dash of hubris. Is that smoke coming from the bank vault with all the paper in it? Is it permitted to yell fire in a crowded vault that's on fire? Beware the Ides of the Contrarian.

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