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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: mishedlo who wrote (85011)9/12/2008 6:51:58 AM
From: Dan38 Recommendations  Read Replies (1) of 116555
 
I still think you have far too much faith in the honesty and intelligence of our government.

Just as you were ~2 to 3 years early (and about 2 to 3 years wrong - me too!) about the housing bubble, because who could possibly imagine that the great leaders of our business and government institutions would just lie and cheat about the value of bonds etc. for years - but they did.

I think you are grossly overestimating their integrity once again. A couple giant sugar boosts to the diabetic patient that is the U.S. economy is what these guys are will be giving us through the election in an attempt to keep the current pols in power. At that point we may well see the financial equivalent of a diabetic coma.

But for the near term, the result will be a price inflation. Economically, it shouldn't be happening, since unemployment will be continuing to rise and GDP continuing to fall, but that's what we're going to get, due not to economic factors or anything approaching reason or logic, but due to venality and political ambitions of our business and government leaders.

Have you looked at your grocery bill lately?

Keep in mind that, if money supply falls at 10 per cent per month, while output falls at 11 per cent per month - it's hugely inflationary.

Were you expecting the "stimulus checks" - are you now expecting more?
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