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

To: gregor_us who wrote (5888)	1/22/2004 11:07:56 PM
From: Little Joe	Read Replies (2) \| Respond to of 110194

"Debt accumulation---even buying a house--tends to crowd out the ability to spend. Debt Service is real." Yes, but to some extent this is set off by the fact that many people are replacing high interest loans with low interest loans and improving their overall purchasing power. How much, I am not in a position to say. As for deflation, as I have said many times they will be handing out 10K bills on the corner before deflation sets in. It will eventually, but I think, only after inflation so severe that the pain of deflation will be acceptable. That is what I think and that is what the technical indicators that I follow are confirming. I hope we and most on this thread are wrong. Whichever scenario developes, it won't be pretty. Little joe