Everyone is gathering dollars while they may...even as the bond sinks to new lows.
Clearly many are looking forward to the new higher yields after 2006 as the Fed continues to raise rates to cover up for the dismal macroeconomic state of the US economy...I know I am.
I have a bad feeling about the American Consumer, everyone you see is still slapping the plastic down to pay for things; no one pays cash anymore.
With Dubya's approval numbers in the mid/high 30's THAT could be a proxy for some deep seated feelings of discomfort among the denizens of Main Street.
Will Wall Street ever catch on? Eventually. But, how long will the market masters be permitted to build their castles in the sky... Google at $400...Oh please, that's as bad as it gets.
As long as our Chinese "enablers" continue to be supportive...fine. But someday...soon that support is going to start melting away...then the deluge.
