Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 173.71

-1.7%

3:14 PM EST

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To: limtex who wrote (33671)	6/30/1999 12:57:00 PM
From: Art Bechhoefer	Read Replies (1) of 152472

The problem is that these supposedly wise guys easily overlook all the consequences stemming from their desire to convince the general public that they're doing something useful. For example, higher interest rates will attract more foreign money into Treasury securities, leading to a strengthening of the dollar against other currencies. This will increase our dependence on foreign goods and artificially weaken foreign markets for U.S. goods. It will also encourage investors in countries like Japan to borrow yen at near zero interest rates, and instead of investing it in Japanese businesses, pour it into Treasury securities. This has a negative impact on the key trading nation in Asia and prolongs the agony of recovery that affects virtually the entire Pacific rim. Thus, a stronger dollar is made even stronger by hot money flowing out of Japan. This whole affair makes a strong argument for not fixing what ain't broke.

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