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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: Dave who wrote (70353)	2/22/2001 2:44:06 PM
From: LLCF	Read Replies (1) of 436258

<I think you may underestimate the importance of a strong dollar, and how horrifically our economy would shrivel if half of the foreign investors who own US Treasuries were suddenly to cash in their chips and go buy Euros. The Fed's hands are tied.> My one point is that the dollar has been very STRONG, not weak... so there is lots of room for the dollar to fall before there is any reason even considering stepping in IMO. More importantly... given the historical backdrop of past depressions there is no way the fed's hands are tied IMO if things get ugly. Past depressions have been blamed on tight policy. THAT is the one mistake they WON'T make [whether it is or not in reality] IMO. I repeat, the dollar will be sacrificed IMO in favor of rate cuts. < how horrifically our economy would shrivel if half of the foreign investors who own US Treasuries were suddenly to cash in their chips and go buy Euros.> IMO the prevailing view is that weaker dollar stimulates our economy... I don't think [again assuming things look real BAD] the powers that be are going to worry about others, lower dollar makes us more competitive abroad. DAK

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