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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: Jim Willie CB who wrote (51605)	5/17/2002 3:43:51 PM
From: Jim Willie CB	Read Replies (1) of 65232

foreigners own 12% stocks, 44% TBonds, 23% corp bonds "The American public, having been suckered into pouring its life savings into a dangerously overvalued stock market, is now being called upon to maintain its unhealthy spending patterns to keep the economy from sinking further… Foreigners now hold on a net basis $2 trillion of US assets, or 20% of GDP. They own 44% of the liquid treasury market, 23% of the US corporate bond market, and 12% of the US equity market… but the long running current account deficit that now exceeds 4% of GDP is unsustainable." - John Hathaway, The Tocqueville Funds, Gold as Theater, August 23, 2001

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