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

To: John Vosilla who wrote (66827)	7/25/2006 3:50:17 PM
From: Mike Johnston	Read Replies (1) \| Respond to of 110194

Exactly. That is the biggest piece of the puzzle. Conundrum of the century. Treasuries were yielding real 3-4% in the early 90's, now they are yielding negative 3-4%. Are millions stupid or somebody is playing games ? Can it be explained by stupid Asian buyers with some extra motivation, as Russ is suggesting ?

To: John Vosilla who wrote (66827)	7/25/2006 4:08:33 PM
From: NOW	Read Replies (1) \| Respond to of 110194

could it be that they are telling the honest story? LT treasuries that is? and if they are, is not MISH right?

To: John Vosilla who wrote (66827)	7/25/2006 6:48:03 PM
From: Les H	Respond to of 110194

40 years ago = Operation Twist research.stlouisfed.org Or is just a continuation of the arrangement under the prior administration that the Bank of Japan would monetize US debt?

To: John Vosilla who wrote (66827)	7/25/2006 9:37:37 PM
From: Tommaso	Read Replies (1) \| Respond to of 110194

>>>You have to go back 40 years to find rates this low at the early stages of the Vietnam War when commodities and hard assets were dirt cheap, real inflation was non existent, and we ran a trade and budget surplus..<<< It's a total disconnect from reality. The collapse of the Soviet Union has fostered the illusion that we in the United States have the paradigm for the whole world. Our entire country is on as unsound a financial basis as the city of New York a quarter of a century ago was in relation to the rest of the United States. I do not like betting against my country, my currency, my stock market, and indeed my own times. But no individual person has any obligation to suffer the consequences of one's co0ntemporaries' folly.