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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: TobagoJack who wrote (15561)2/24/2002 9:23:04 AM
From: AC Flyer   of 74559
 
Hi Jay:

I enjoy your travelogues. I remember the first time I visited the Caribbean. To a working class kid who grew up under the leaden gray skies of Birmingham, England, it seemed impossibly exotic. I visit St. John in the USVIs as often as I can, though my kids now prefer Orlando.

Anyway, to your post. >>(c) A group of folks believe they can export paper in exchange for Toyotas forever<<

Last Sunday's New York Times had a lengthy article on Toyota. The theme was that Toyota is looking more and more like an American company and will at some point overtake Chrysler (which is now a subsidiary of Daimler-Benz, though not for long, imho) in the Big Three. It turns out that Toyota sells more cars in the US than Japan now, and two-thirds of the cars it sells in the US are built in the US. How about that? There are large swathes of Kentucky where the pc car to drive is a Toyota. Funny thing, this globalization. Makes nationalism look like an anachronism, don't you think? Jobs belong to the customer and flow to where there is optimal comparative advantage.

Oh, by the way, 98% of Japan's debt is held by Japanese citizens. Japan could default on the lot, the country could sink into the Pacific and we'd hardly notice.
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