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

To: Crimson Ghost who wrote (27399)	2/28/2005 3:54:45 PM
From: ild	Respond to of 110194

<<<easy Al probably will remain in a tightening mode until stocks and real estate buckle >>> Exactly my thoughts. Al is no longer a best friend of speculators.

To: Crimson Ghost who wrote (27399)	2/28/2005 6:12:16 PM
From: mishedlo	Read Replies (2) \| Respond to of 110194

Pretty good stock bounce after the morning selloff. But only a feeble bond bounce. To my way of thinking the resilience of the stock market is highly bearish for bonds. Even easy Al probably will remain in a tightening mode until stocks and real estate buckle Only on the S&P. The Naz not nearly as well. But I agree, I think housing and junk bonds have greenspan spooked. OTOH he just might really think this recobvery is "self sustaining". He did go on record saying that employment would pick up and capex will pick up. IMO capex is irrelevant. Hiring continues to be at walmart but he has not figured it out. I think he thinks that he can turn the economy around again if he has to. That will be his fatal mistake. Once housing really for sure turns, it is light out on everything. Deflation will be kicking in right as he is forced to the exit door. Mish