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

To: CalculatedRisk who wrote (37298)	9/15/2005 5:49:54 PM
From: Crimson Ghost	Read Replies (1) \| Respond to of 116555

Big ad in the PALM BEACH POST for Renewable Unsecured Subordinated Notes of an oufit called Consumer Portfolio Services -- CPSS Yields range from 6.98% for one year notes to 9% for five year notes. Why do I get the strong impression they are trying to unload junk on the public after institutions refused to buy? As they say BUYER BEWARE

To: CalculatedRisk who wrote (37298)	9/15/2005 6:33:21 PM
From: regli	Respond to of 116555

CR, thanks for an excellent discussion. It should give everyone pause when establishment economists including FED governors openly talk at Jackson Hole about a 30% to 40% dollar devaluation. Form my perspective it implies that they have given in to the notion that dollar devaluation is just about the single remedy left to resolve the current account issue. I think it will also be difficult to contain it there once the process starts as confidence in the dollar will be seriously undermined.