Clown-Free Zone... sorry, no clowns allowed Message Board

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

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To: ru2 who wrote (171384)	6/9/2002 3:42:06 PM
From: Haim R. Branisteanu	Read Replies (4) of 436258

ru2, the problem with the Euro are the unions who just got a 4% increase and the social benefits & workers compensation. Europe is less flexible in adjusting for slowdowns and best example recent unemployed in Germany at 9.7 above April 9.6 and 60,000 more than expected. The dollar strength also will lower their exports and from a slim trade surplus Europe can go into deficit. Currency traders are a bunch of monkey who buy what is going up and sell what is going down. As to European real estate it is grossly overvalued by any yardstick, as the rents is not perceived as necessary to support a mortgage. Most Europeans invest in real estate for capital gains and not so much for real income like in the US. For the moment the USD is very battered but as always nothing goes up or down in a straight line

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