On 24/01/2010 5:15 PM, Eisboch wrote:
wrote in message
news

One thing all these economists seem to have in common .....


.... is they are constantly in disagreement.

Economists are second only to weather forecasters, IMO. Half call for
rain, the other half
for sunshine.

Only when there's a foot of it, do they all agree it's probably snowing.

Eisboch

Quite true. And by the time they agree it is snowing, it has melted.
Debt markets are the same, buy rhe time it goes from AAA to AA- it
probably is a BB-. That is, if it was ever a AAA to begin with, as in
ABCP paper.

Best not to really formulate a prediction, but rather to be prepared for
either up or down.

Big issue though is debt is such a huge problem now in US, Japan, Canada
and Germany... and China tightening up is worrysome. A game of ecomonic
MAD - mutual assured destruction by governments and banks for the rights
to rape peoples wealth.