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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: russwinter who wrote (1114)	9/27/2003 11:39:47 AM
From: philv	Respond to of 110194

pimco.com I know the article Bill Gross of PIMCO wrote has been referenced, however I would like to emphasize some points. He states some facts and asks a question: Asian countries are willing to trade off jobs for their (bad) US treasury investments. He asks "what about all the rest of us? What ancillary benefits do we get by purchasing a rich dollar denominated bond?" He concludes "We have nothing to show for our investment prowess other than an under-yielding Treasury note denominated in an overvalued currency" Maybe those inscrutable Asians ain't so dumb after all. They will play the game until it has to stop. In the meantime they are building up their industries and infrastructure. When one extends the trend to the future, it is obvious that unless the $US drops dramatically, investments will continue to flow out, jobs will continue to be exported, current account deficits and debt will continue to grow. Either increase interest rates or lower the dollar. Those are the choices, and Greenbuckscam chose the former. He won't support the dollar by raising interest rates. The Asians are doing it for him! So far. The party goes on until the lights go out. It will continue until it ends. Gold's daily manipulative fluctuations are minor problems when viewed in light of the bigger picture.

To: russwinter who wrote (1114)	9/27/2003 3:23:43 PM
From: re3	Respond to of 110194

<<<I mean some of my old favorites like WHT, MNG, WTZ, GBN and CAU just were crushed this week CAU was only down 7 cents for the week and yesterday's close looks to be @ the high of the day...

To: russwinter who wrote (1114)	9/27/2003 7:26:39 PM
From: yard_man	Respond to of 110194

I see a lot of folks calling for a tough winter ... we'll see. I know what will happen if we don't get one. <ng>