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

To: mishedlo who wrote (51330)	1/25/2006 12:43:02 PM
From: GST	Read Replies (1) \| Respond to of 110194

<I have discussed this before and more or less agree with Shostak's definition of money. I know you will despise that so I do not want to go into it. It will just annoy both of us.> Since you put money supply at the heart of all things, a simple statement of your view of money and credit would be helpful -- annoying, possibly, but necessary.

To: mishedlo who wrote (51330)	1/25/2006 12:54:35 PM
From: russwinter	Respond to of 110194

seem to recall Russ looking at numbers of coupon passes and concluding that the FED has tightened a lot.> I feel they are still relatively loose, but not as loose as the cognoscenti seem to think, and not enough to justify the runaway Humpty trades the Riskloves are running. I don't think they will support the present risk spread environment. I think the term "measured tightening" is actually a fair characterization at the moment. But I agree with GST, FCB hold the real trump card.