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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: mishedlo who wrote (76568)3/20/2008 5:59:33 PM
From: Mike Johnston  Read Replies (3) of 116555
 
This is absurd.

Back in 1999 people were buying cash burning revenue-less companies at 500X eyeballs and buying CSCO at 1% earnings yield.

At the end of 2001 people were buying dollars at 120, when it was clear that the asset inflation based US economy is a house of cards.

In 2005/06 they were investing in real estate at 2% cap rate or buying "one door and 2 window" tool sheds in crappy neighborhoods for half a million dollars.

Now somebody is buying fixed income at 0.50% yield in time of 10-15% inflation, when it is clear that the Fed is giving out money and will print trillions if necessary and that 20%+ inflation along with socialism is on the way.
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