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

To: Mike Johnston who wrote (71063)	10/5/2006 2:55:22 PM
From: Perspective	Respond to of 110194

Actually, I don't think anyone has to lose the money Goldman is making (except dumbass bears like me). Certainly it is not a victimless crime, but the accumulation of wealth by the extremely wealthy is only a problem inasmuch as it impacts patterns of consumption. The housing bubble is a problem because it distorted overall economic activity in a really big way. Artificial inflation of jobs, spending patterns, irreversible destruction of natural resources. If all the billionaires suddenly had twice as much money, it's no big deal unless they actually want to do something with the money. Now, when they decide it's time to start buying hard assets with the cash - real estate or commodities - then it squeezes the middle class hard, and that's when the Fed is supposed to step in and put an end to the games. Unfortunately, our Fed has created such a miserably imbalanced economy that it can't stop the PigMan games without also ruining the real economy. Ultimately the PigMan games will ruin the economy on their own, with or without Fed intervention. BC