>...in Doug Noland's aktuellem Credit Bubble Bulletin, bzw. dem sog."Flow of Funds".
>Hier der entscheidende Absatz:" According to Federal Reserve data, the brokerage firms increased holdings of financial assets by a staggering $140 billion, or at an annualized rate of 56%, to $1.1 trillion. Holdings of “credit market instruments” jumped $42 billion to $210 billion, growing at an annualized rate of 107%. Elsewhere, security credit increased $59 billion to $282 billion, “misc. assets” increased $32 billion to $556 billion, and equity holdings increased $8 billion to $74 billion (note the relatively minor role of “equities” as a percentage of total financial assets - that is precisely why we refer to this as a Credit Bubble!). Digging a bit deeper into the astounding growth in “credit market instruments,” we see that while corporate and foreign bond positions increased about $16 billion, or 16% during the quarter, the largest change in positions was a dramatic reduction in a short position in Treasury securities that had been growing over the past few years. In fact, a short position of $43.5 billion was reduced to $4.7 billion during the first quarter, certainly in response to spread trades “blowing up.” If there was confusion as to the true dynamics behind the dramatic out-performance of Treasuries, the securities firms apparently purchased almost $39 billion during the first quarter."
>NickLeeson

Hi Nick -

ich mag's ja schier nicht zu glauben, was ich da lese. Doch lieber gleich nach Feuerland? Wenn die Nummer schiefgeht (und das wird sie, nur wissen wir noch nicht wann und vor allem fehlt immer noch der"trigger", aber vielleicht ist diesmal ein"non-trigger" der Trigger?) - dann haben wir nun wirklich fertig. Ich habe mal in Vegas bei Poker-Weltmeisterschaften zugeguckt; es gewann"Jimmy the Greek" - zum Schluß mit einem 8er Pärchen. Vielleicht sollten wir den Aspekt nicht für ganz abwegig halten: die Amis lieben Poker. Und der Witz beim Poker ist nun mal der Bluff.

Gruß

d.

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