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To: DMaA who wrote (228746)11/20/2007 10:04:28 AM
From: LindyBill  Respond to of 793926
 
inflation here.

Bush has been pulling an "LBJ" and gunning the money supply to pay for Iraq. Bush has got away with it because world, and our growth, combined with other country's desire to hold our money, have sucked it up. LBJ didn't have that going for him.

BUT. The world is now awash in dollars. A lot of them went into bad mortgages. Which are now coming home to roost. If this absorbs the collapse and makes the money boys skittish, it may turn out to be a blessing. Better a small collapse on that front now and no big collapse later.



To: DMaA who wrote (228746)11/20/2007 10:14:25 AM
From: MulhollandDrive  Respond to of 793926
 
re: inflation here...

not just here...

consumer prices were up 6.5% over last year (Oct) if you can believe the govt stats

currency markets are predicting yet another rate cut, the dollar is being debased, markets are screaming for it, this time the FED may be in a box



To: DMaA who wrote (228746)11/20/2007 12:13:06 PM
From: MulhollandDrive  Read Replies (1) | Respond to of 793926
 
saks just reported and beat earnings by a penney...

the CEO warned that while the high income are still spending the 'crossover' customer (those who stretch to shop at saks, aka, middle and upper middle class) are holding back

'it just cost $100 to fill up the escalade, honey, please no more new shoes from saks!'

<gg>