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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: glenn_a who wrote (96291)8/15/2008 1:28:01 AM
From: TH  Read Replies (3) of 110194
 
glenn,

<Mish stuck to a particular end-game perspective that colored his interpretation of "real-time" data. But as far as the ultimate end-game ... who knows, perhaps he will be correct.>

I've always thought that Mish's deflation view had a very high probability of being THE end game of this massive and unsound credit expansion. My perspective is I wish to profit many times before that deflation arrives. Inflation has been and is the M.O. of our completely irresponsible Fed. That will continue until it can't.

Lately there seems to be more talk of deflation now, as the deleveraging is creating some short-term impacts that might be incorrectly labeled as such. I consider this recent commodity smackdown as cover to hold rates in the US and sell this interest rate differential nonsense as a reason to buy the dollar and give the Fed breathing room. The inflation data today was probably allowed to go out hot (meaning not as adjusted as it has been for the past few YEARS) in an effort to convince the mindless wall street squirrels that it is actually meaningful/accurate and not yet reflecting the oil and everything real correction.

And of course the massive deficit and debt are just ignored. They don't matter to anyone it seems.

It is a bizzare and twisted situation.

GT
TH
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