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

To: Perspective who wrote (71058)	10/5/2006 9:04:03 AM
From: Mike Johnston	Read Replies (1) \| Respond to of 110194

Yes, it is ruining the economy, but i would be more specific, it is ruining the middle class, the middle class is shrinking and sinking, with stagnant wages and sharply rising cost of living. In the meantime the high-end economy is going gangbusters. Russ covers this subject very well in his blog and he is one of the very few people that understand what is going on, namely massive transfer of wealth to the rich. As far as the market is concerned, it is completely detached from fundamentals, it is all about liquidity, gaming the next bogus inflation number, Fed jawboning and manipulation. In addition to gamblers we have trading houses like Goldman Sachs which truly have an enormous advantage over everybody else and are extracting billions from the markets ( somebody has to lose all the money that Goldman makes)