The Epic American Credit and Bond Bubble Laboratory Message Board

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

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To: NOW who wrote (99857)	11/23/2008 8:44:54 PM
From: pogohere	Read Replies (1) of 110194

re: derivative unwind: I found some of the logic of the piece obscure, but the carry trade part was compelling. My concern is that this is 2008, not 1929. What took months and years in 1929 could be telescoped inward into days and weeks. What with carry unwind, loss of financing for hedgies combined with the need to meet redemptions toute suite, along with yet another bank "rescue" (read: Citi) and the domestic segment of the US autos in the ditch, sentiment could utterly collapse faster than you can say "oh shit!" What I think is just getting started is the real collapse. What we've seen so far is the trailer. The incoming BOs are talking of spending US$500+ bil. Time to invest in ink, paper and presses?

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