Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: John Vosilla who wrote (113521)	8/7/2010 1:36:55 AM
From: Hawkmoon	5 Recommendations Read Replies (1) of 116555

I'm actually becoming more and more of a "perma-bear" due to the fact that the US Congress UTTERLY FAILED to regulate Credit Default Swaps in this "FINREG" legislation. There's just no real reason to own equity or debt based assets so long as Naked CDS speculation remains rampant. One may perceive they hold a "safe" asset based upon seeing low CDS premiums, but I believe this is merely a pause in the storm permitting CDS speculators to "reload" in preparation for the next onslaught. Even China is being targeted by CDS speculators: zerohedge.com But I agree with you.. I think the Chinese people are in for a nasty surprise that may, unfortunately, create a long-lasting resentment and cynicism towards the idea of Capitalism. I know we're still in shock over what our dysfunctional form of Crony Capitalism has wrought upon our own economy. I'm all for COMPETITIVE Capitalism.. where the government's primary role is to preserve capitalistic opportunity the greatest majority of its citizens. Hawk

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