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

To: mishedlo who wrote (21220)	1/13/2005 8:19:19 AM
From: russwinter	Read Replies (1) \| Respond to of 116555

This Ferguson tome is from the my dog ate the homework, cover my ass school of "leadership". Seems to be a chronic problem with this whole criminally negligent "who'd da thunk" crowd.

To: mishedlo who wrote (21220)	1/13/2005 10:46:55 AM
From: Knighty Tin	Read Replies (1) \| Respond to of 116555

Ferguson's fallacies are many, but one he ignores is when he mentions the Central Bank pitting its judgement vs. that of thousands of pro investors. That is a straw dog and not the problem. Nobody is even asking them to pop the bubble. Just don't be the supplier of helium for expanding it. If investors had to use their own capital, then wild enthusiasms would never build into bubbles. But when credit is super easy, they misallocate its use enormously.