[patientrenter]

Whether the credit is private or govt doesn’t make it any more or less real. Each $1 borrowed is another $1 spent, regardless of source.

As I said before, claiming that credit is tight because there’s less of it than there was at the peak of the largest easy money bubble in recorded history is hardly convincing. We are simply returning to normal (in some areas of credit), way looser than normal in housing, and tighter than normal in a few pockets.

[patientrenter]

Whether the credit is private or govt doesn’t make it any more or less real. Each $1 borrowed is another $1 spent, regardless of source.

As I said before, claiming that credit is tight because there’s less of it than there was at the peak of the largest easy money bubble in recorded history is hardly convincing. We are simply returning to normal (in some areas of credit), way looser than normal in housing, and tighter than normal in a few pockets.

[patientrenter]

Whether the credit is private or govt doesn’t make it any more or less real. Each $1 borrowed is another $1 spent, regardless of source.

As I said before, claiming that credit is tight because there’s less of it than there was at the peak of the largest easy money bubble in recorded history is hardly convincing. We are simply returning to normal (in some areas of credit), way looser than normal in housing, and tighter than normal in a few pockets.

[patientrenter]

Whether the credit is private or govt doesn’t make it any more or less real. Each $1 borrowed is another $1 spent, regardless of source.

As I said before, claiming that credit is tight because there’s less of it than there was at the peak of the largest easy money bubble in recorded history is hardly convincing. We are simply returning to normal (in some areas of credit), way looser than normal in housing, and tighter than normal in a few pockets.

[patientrenter]

If you were to analyze the ownership of fixed income savings instruments, I think you would find that the rich own disproportionately more. In other words, bonds make up a higher percentage of wealthy people’s portfolios than they do for middle class (or poor) people. Include indirect ownership through pension funds etc.

I admit I have no source for this, but I recall seeing it several times over the last 20 years from a variety of decent sources, so I think there is real data to support it. If I look, I will post any sources either way.

[patientrenter]

If you were to analyze the ownership of fixed income savings instruments, I think you would find that the rich own disproportionately more. In other words, bonds make up a higher percentage of wealthy people’s portfolios than they do for middle class (or poor) people. Include indirect ownership through pension funds etc.

I admit I have no source for this, but I recall seeing it several times over the last 20 years from a variety of decent sources, so I think there is real data to support it. If I look, I will post any sources either way.

[patientrenter]

If you were to analyze the ownership of fixed income savings instruments, I think you would find that the rich own disproportionately more. In other words, bonds make up a higher percentage of wealthy people’s portfolios than they do for middle class (or poor) people. Include indirect ownership through pension funds etc.

I admit I have no source for this, but I recall seeing it several times over the last 20 years from a variety of decent sources, so I think there is real data to support it. If I look, I will post any sources either way.

[patientrenter]

If you were to analyze the ownership of fixed income savings instruments, I think you would find that the rich own disproportionately more. In other words, bonds make up a higher percentage of wealthy people’s portfolios than they do for middle class (or poor) people. Include indirect ownership through pension funds etc.

I admit I have no source for this, but I recall seeing it several times over the last 20 years from a variety of decent sources, so I think there is real data to support it. If I look, I will post any sources either way.

[patientrenter]

If you were to analyze the ownership of fixed income savings instruments, I think you would find that the rich own disproportionately more. In other words, bonds make up a higher percentage of wealthy people’s portfolios than they do for middle class (or poor) people. Include indirect ownership through pension funds etc.

I admit I have no source for this, but I recall seeing it several times over the last 20 years from a variety of decent sources, so I think there is real data to support it. If I look, I will post any sources either way.

[patientrenter]

Rt 66: “We won’t get to vote on it…. If we could vote I’d bet …. Borrowers would chose inflation…”

I think you are right about the way voters will choose. I think you are wrong about not getting to vote. I know there’s a desire to be more cynical than thou sometimes about our democracy, and to pretend that the majority of voters cannot influence political decisions. But I think that’s way too extreme a view. And besides, there is a whole collection of 800-pound gorilla special interests who favor inflation over deflation: banking, RE, investment managers, most highly leveraged companies…. Put the general public’s preference for not repaying its debts in full together with all those special interests and I think you get one unstoppable force.

[patientrenter]

Rt 66: “We won’t get to vote on it…. If we could vote I’d bet …. Borrowers would chose inflation…”

I think you are right about the way voters will choose. I think you are wrong about not getting to vote. I know there’s a desire to be more cynical than thou sometimes about our democracy, and to pretend that the majority of voters cannot influence political decisions. But I think that’s way too extreme a view. And besides, there is a whole collection of 800-pound gorilla special interests who favor inflation over deflation: banking, RE, investment managers, most highly leveraged companies…. Put the general public’s preference for not repaying its debts in full together with all those special interests and I think you get one unstoppable force.

[patientrenter]

Rt 66: “We won’t get to vote on it…. If we could vote I’d bet …. Borrowers would chose inflation…”

I think you are right about the way voters will choose. I think you are wrong about not getting to vote. I know there’s a desire to be more cynical than thou sometimes about our democracy, and to pretend that the majority of voters cannot influence political decisions. But I think that’s way too extreme a view. And besides, there is a whole collection of 800-pound gorilla special interests who favor inflation over deflation: banking, RE, investment managers, most highly leveraged companies…. Put the general public’s preference for not repaying its debts in full together with all those special interests and I think you get one unstoppable force.

[patientrenter]

Rt 66: “We won’t get to vote on it…. If we could vote I’d bet …. Borrowers would chose inflation…”

I think you are right about the way voters will choose. I think you are wrong about not getting to vote. I know there’s a desire to be more cynical than thou sometimes about our democracy, and to pretend that the majority of voters cannot influence political decisions. But I think that’s way too extreme a view. And besides, there is a whole collection of 800-pound gorilla special interests who favor inflation over deflation: banking, RE, investment managers, most highly leveraged companies…. Put the general public’s preference for not repaying its debts in full together with all those special interests and I think you get one unstoppable force.

[patientrenter]

Rt 66: “We won’t get to vote on it…. If we could vote I’d bet …. Borrowers would chose inflation…”

I think you are right about the way voters will choose. I think you are wrong about not getting to vote. I know there’s a desire to be more cynical than thou sometimes about our democracy, and to pretend that the majority of voters cannot influence political decisions. But I think that’s way too extreme a view. And besides, there is a whole collection of 800-pound gorilla special interests who favor inflation over deflation: banking, RE, investment managers, most highly leveraged companies…. Put the general public’s preference for not repaying its debts in full together with all those special interests and I think you get one unstoppable force.

[patientrenter]

[quote=peterb]….Read Bill O’Neils’ books for a careful historical study of how stock investments really pay-off. It has been my experience that his concepts apply to all investing activities.[/quote]

peterb, what is the basic idea in those books that leads you to say that there is no useful distinction between investing and speculating?

[Author]

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