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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 226.19

-1.8%

Dec 12 9:30 AM EST

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To: schrodingers_cat who wrote (143259)	6/22/2002 2:47:51 PM
From: GST	Read Replies (2) of 164684

5% growth is a mirage. Inflation was held in check by a strong dollar. Interest rates were kept low by a strong dollar. A drop in the dollar will trigger higher interest rates even if the fed does nothing -- interest rates are set by the market. The market is global and the US is the world's biggest net debtor to foreign investors by far. A slide in the dollar will hurt exports of Japan and will choke off our exports to Japan. Same with Europe. 5% growth is a mirage. The dollar is unsustainable. Low interest rates are unsustainable. The recovery is either "soft", "very soft" or "already over". Foreigners are selling. There is no way to keep the stock market at current prices without their money flowing in by the billions every day. There is no way to keep the dollar at current prices without their money flowing in by the billions every day -- every day. And if those inflows, which have already slowed, become an outflow, then we are going to see what a bursting of the dollar bubble really means to our economy.

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