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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (10266)	8/6/2004 1:06:35 PM
From: Tommaso	Respond to of 116555

I thought the "watershed" had already been arrived at for a few minutes this morning when a feed from my broker was showing the Dow down nearly 400 points in the first few minutes. Not so, it turned out. Way back in 1998 the Dow began to correct in that way and that's when Greenspan opened the monetary floodgates. I don't believe in the PPT, but the stock market has been kept alive in an increasingly vegetative condition for several years now. I think the life support system is gradually failing.

To: mishedlo who wrote (10266)	8/6/2004 4:56:32 PM
From: NOW	Read Replies (1) \| Respond to of 116555

the fact is (or seems to be) that AG will scarifice everything to keep the housing bubble alive.

To: mishedlo who wrote (10266)	8/6/2004 4:57:54 PM
From: NOW	Read Replies (1) \| Respond to of 116555

"in this context note that i for one believe that a revival of the refi craze via lower rates is NOT assured. it is a hallmark of a deflationary era that eventually, a breakdown in the credit transmission system renders lower rates impotent - one only needs to look at Japan's example. once the real estate bubble was showing the first significant cracks, a campaign to lower rates failed to re-ignite it. and one would do well to remember that Japan's RE bubble was deemed to be unassailable for a long time - the reason given was the 'shortage of land'." Yes, BUT! the japanese are not the profligate borrowers the americans are.....