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Politics : Ask Michael Burke
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To: mishedlo who wrote (86206)12/4/2000 8:09:38 AM
From: Mike M2  Read Replies (1) of 132070
 
M, the US dollar's strength is not sustainable for a number of reasons - record trade and current account deficits, low savings rate, the US economy is clearly slowing. When currencies have strong moves they tend to overshoot and be self sustaining for a while leading to sharp reversals. For example, most expect the dollar can only strengthen and the euro only weaken. In general, a strong dollar benefits financials and hurts export manufacturers. In the current situation I expect a hard landing for the US economy leading to prolonged weakness in the dollar. I like gold stocks but I suppose one can look for manufacturers who might benefit from a weaker dollar but I feel the hard landing scenario may negate any advantage. Mike
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