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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Ilaine who wrote (4182)	6/2/2001 2:03:00 PM
From: Box-By-The-Riviera™	Respond to of 74559

wrong address return to sender

To: Ilaine who wrote (4182)	6/2/2001 5:36:47 PM
From: robnhood	Read Replies (3) \| Respond to of 74559

Noland's credit column this weekend was exceptonally good. I know he likes certain words and seems to hype it up a bit, but if you read it closely you cannot deny the validity of what he says. IMHO. << There has simply never been so much money and credit recklessly thrown at so many hopelessly uneconomic enterprises, and no amount of additional monetary excess is going to create strong cash-flow generating businesses out of these misguided ventures. >> <<" While a credit system creates purchasing power "out of thin air," the resulting cash flow commitments are very real with consequences for borrower and the lender alike.>> <<Importantly, extreme money and credit excess are today stimulating little if any economic growth,>> <<only the uninformed or hopelessly complacent can ignore the ramifications of this extreme divergence between credit growth and economic growth>> << Thus, one can look at the massive accumulation of consumer, real estate and corporate debt as the continuing creation of unprecedented cash flow commitments, although importantly lacking of adequate true underlying economic wealth creation capability – the ability to generate cash flows - to service outstanding debt.>> Anyway CB,, I don't know why you're on these bear threads trying to put in an opposing viewpoint except that you want to argue and get lots of posts. Most on here and CFZ agree with Noland and can see the unfolding insanity for what it is. A massive credit bubble, and ensuing mania.