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

To: Pogeu Mahone who wrote (99167)	10/24/2008 2:31:50 PM
From: Mike Johnston	3 Recommendations Read Replies (1) \| Respond to of 110194

The ultra-hawkish stance of the European Central Bank - which raised rates in July - is now viewed as a weakness. Foreign exchange markets are no longer chasing the highest interest yield: they are instead punishing those where the authorities are slowest to respond to the downturn. This is perverse, almost laughable analysis. So ECB is criticized for its responsible behavior and punished for attempts to preserve the purchasing power of the currency and contain inflation. Why nobody is talking about the truth ? That Europeans were ripped off to the tune of trillions of dollars by Wall Street crooks and are suffering the consequences. I do not feel sorry for them, this is the price they are paying for their naivete and stupidity in trusting American paper assets, American ratings agencies, American economic statistics and American salesmen.

To: Pogeu Mahone who wrote (99167)	10/24/2008 4:23:21 PM
From: TH	1 Recommendation Read Replies (1) \| Respond to of 110194

Good piece. I would ask, does anyone really believe the USA GDP? I don't. I believe it is a complete fabrication. Lots of relative comparisons and/or valuations are not valid if apples and atom bombs are used. I also believe the Fed and Treasury are limiting dollars while saying they are providing enough. Why? Because the game now is to make certain that funding flows into Treasuries. Period. The markets health have been placed secondary to this objective. They want both objectives, but they will settle for just one. GT TH