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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: pater tenebrarum who wrote (6896)7/28/2000 3:37:35 PM
From: oldirtybastard  Read Replies (3) of 436258
 
He said:

"""He said the rapidly increasing trade deficit was not an immediate threat because foreigners were eager to get their hands on dollars to invest in the United States, but he said that in the long run the issue was "probably the most difficult one" facing economic policy makers.

"At some point something has to give," Mr. Greenspan said, referring to the trade and current account deficits and the dollar, which so far has remained quite strong.

"We don't know whether it will be protracted over a very long period of time, in which case the adjustments will occur in the normal manner without any significance, or whether they'll occur more abruptly," he said."""

Well, a crash would make this a pretty abrupt process, I wonder if that's what he meant. He can always tell the firing squad that he warned them but nobody listened.
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