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

To: Umunhum who wrote (36615)	7/22/2005 1:25:47 PM
From: GST	Respond to of 110194

<terminology> It was late and I was on the lanai enjoying a cool beverage -- perhaps the metaphor was needlessly colorful :)

To: Umunhum who wrote (36615)	7/22/2005 1:41:48 PM
From: mishedlo	Respond to of 110194

I don't know if I would use your terminology but you made my point. Mish completely ignores the fact that the US is borrowing over 70% of the world's savings. He seems to think that it isn't important. I give up. There is no point in debating someone who claims that the US government spending is going to go down. Do NOT put words in my mouth. I 100% without a doubt said the US could not an will not go on taking 70% of the world's savings. I further said the US savings rates of 0% was no sustainable. I also said consumer spending WILL drop in a housing bust. I am tired of being misquoted by you. I answered your posts about savings and you burry your head in the sand, and in fact purposely and blatantly distorting what I said. If you think US consumer spending is going to rise in a housing bust then you are a total moron. That is the bottom line of it all. Now, if you think there will not be a housing bust then that may be another matter. US government spending COULD drop, it may not drop. Certainly we can save $100B a year or more by canceling the absurdity that is Iraq. There are all kinds of ways we see a huge drop in the financing needs in the US. Currently people are taking out 0% loans to buy houses. When that insanity stops, and it WILL, that is a ton of freaking money growth that will not only stop but reverse. Mish