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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 249.14+0.3%Nov 11 3:59 PM EST
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To: Glenn D. Rudolph who wrote (68485)7/20/1999 9:16:00 PM
From: GST  Read Replies (1) of 164684
 
Glenn -- there is one other point I meant to mention: The trade deficit is not widely understood and so the spike today is not factored into most people's understanding. A trade deficit must be 'serviced' -- meaning that the country that runs the deficit must attract foreign investment to offset the trade deficit. Failing to do this means a falling currency, which in this case is the dollar. A falling dollar means we cannot import deflation. If dollar/yen intervention does not work -- and it won't -- then we will see higher interest rates at some point despite the 'tame' inflation numbers. And the inflation numbers will get less tame as prices in dollars go up. The market is not on solid ground and the trade deficit and yen intervention overnight suggests the beginning of a bad trend is at hand.
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