Hi Robert,
I would like to think a moderated thread would fly. Just getting this thread back on topic and active is a good start. Certainly there are enough interesting things going on to spur discussion.
How many legs do you think are left in the dollars fall?
The world seems to be out-of-sync considering the three spheres.
US: Current account deficit, budget deficits increasing, crisis of confidence regarding earnings, over capacity issues persist, markets weak, yet still growth
Japan: Market had nice first half, big budget deficit growing, some export led growth, financial institutions being hollowed out and nationalized, 2nd half looks weak (keep saying there is big trouble here, but is has not yet arrived)
Europe: Moderate recovery, over capacity issues in some markets, signs of strength for second half
So it would seem the dollars strength against all currencies may be displaced, and that Europe should consider cutting rates to maintain strength into 2nd half.
Cheers,
Lee |
