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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: yard_man who wrote (255444)	8/13/2003 12:59:12 PM
From: ild	Read Replies (1) \| Respond to of 436258

Date: Wed Aug 13 2003 10:36 trotsky (FNM's duration gap) ID#377387: Copyright © 2002 trotsky/Kitco Inc. All rights reserved has now reached their pain threshold of 6 months...this means any further increases in rates will give the vicious dynamic hedging spiral a fresh shot in the arm, put huge pressure on swap spreads and continue to steepen the yield curve. a steepening yield curve is good for gold stocks, but rising LT rates should scupper the alleged 'recovery'. ( note this report by the IMF, and look at the charts - there IS NO RECOVERY. business fixed investment, the one category most important to an economic upswing continues its merry collapse ) : click here ... mises.org just as has been predicted by many observers, this slight back-up in LT rates to date is already stifling the mortgage credit bubble, as purchase apps. and refis both nosedive. without the mortgage credit bubble the economy loses one of the last two props that tend to inflate the largely useless GDP statistic ( the other prop of course is wasteful spending by the state, which impoverishes us, but boosts 'GDP' ) , as consumers stop to buy stuff they don't need with money they don't have.