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

To: Grandk who wrote (13792)	5/13/2004 12:42:05 PM
From: yard_man	Read Replies (2) \| Respond to of 110194

I know. I know. The prices of many things have risen. The question going forward is what price action will predominate and drive the direction of economic activity -- I expect we will be paying more -- on a relative basis for many necessities -- but I think that this will be contractive along with very large drops in financial assets -- esp housing. Again, I am not thinking only of price levels -- that is a parlance that has only recently been made common by the inordinate fascination with the Fed. I am talking about the ability of the economy to continue to expand on ever-increasing levels of indebtedness. I think we are reaching the limits of that -- as far as monetary inflation -- we've had nothing but that for years -- I think we are reaching the pt of failure.