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Politics : Foreign Affairs Discussion Group

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To: John Carragher who wrote (96994)	5/1/2003 8:49:40 AM
From: michael97123	of 281500

JC, We joke about this stuff and yesterday there were a rash of comments pertaining to the Todd interview about the fundamental structural weakness of the american economy. And there is some truth to it, but it all has to do with capital and where capital truly wants to reside. And that has been and will continue to be the US until the europeans rid themselves of welfarism. The US will be the driver of the next recovery, assuming there is one. China has shown fundamental weakness regarding transparency with sars and with assuming great power status with korea. The Japanese are still stuck in the mud. So this time around it will be US capitalism subsidized by the rest of the world, that needs to lead. Hopefully we will manage the next upturn better and will be able to go back to low deficit, high dollar policy while avoiding the pitfalls of corruption and boom mentality. mike

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