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

To: mishedlo who wrote (4924)	1/13/2004 11:59:25 AM
From: Jim Willie CB	Read Replies (1) \| Respond to of 110194

I will give you victory on Treasurys for another full year the longer you are right on ST rates, the greater the gold and commodity volcano later, I will be right as ST and LT rates rise it will be in response to systemic and imported price inflation combined with a lethal dose of Asian reluctance to finance much more of our debts in that next stage, your victory assures a huge potential and my victory will be realized in a monster bond decline but that decline will not be fast, only very long in duration yup, MishMan, we are in synch I will continually grant you ST victory and will be there at the finish line to grab the LT win Greenspasm is GOLD's best friend all his actions have built a geyser under gold, and a collapsed field under the USDollar he is being asked by Germans now if he foresees a DOLLAR COLLAPSE / jim p.s. we both will win and hug after the tape

To: mishedlo who wrote (4924)	1/13/2004 12:13:45 PM
From: Jim Willie CB	Read Replies (3) \| Respond to of 110194

Greenspasm is speaking much clearer English to the Germans much more clear language and word choices than to US Congress he is aware of the current account (trade gap) imbalance he is aware of the risk of a dollar crisis if other nations fail to generate their own domestic demand he fails to acknowlege the Asian outsourced job leakage he overly relies on productivity, exactly what he distorts he leans too hard on his own erroneous pillar I think he fails to comprehend technology's effect on commerce he prefers to emphasize gains in productivity from tech advances sure a tech device works more, but that advantage is shared that device is available to our foreign rivals who have other significant advantages from which to apply leverage, such as cheaper labor he totally fails to perceive the down sides - prices decline progressively and hurt profitability - foreigners offer cheap capital and tech highways to take away business he still regards financial derivatives as beneficial he believes they averted a banking collapse, without realizing that the risk has remained with us inside the banking system he fails to understand that he has helped risk a systemic failure, in order to prevent isolated failures he points to tight yield spreads, which are the object of his own monetized interventions he denies a US real estate bubble like with Uncle Charlie, too many denials of his alcoholism, too many questions even, demonstrate the validity of his real alcoholism I believe he is realizing slowly the errors of his legacy BUT CANNOT ADMIT IT, SINCE HE IS TOO PROUD he still has too many credible denials which are accepted as true I am impressed that he abhors protectionism two major final points are worth stressing 1. no US economic recovery has taken place during a US$ decline 2. outsized federal and trade deficits lead to US$ crisis / jim