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Strategies & Market Trends : Strictly: Drilling II
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To: Jim Willie CB who wrote (15108)7/3/2002 4:50:58 PM
From: Art Bechhoefer  Read Replies (1) of 36161
 
Jim, back in April, I suggested that the euro would rise to a level of about 96 or 97 to the dollar. That's just under where it currently is. You say that interest rates will go up, which I also believe is true. But if interest rates do go up 100 basis points in the next six months, then more foreign inveestors will be interested in buying into the high yields. Despite what you think about the country going to hell in a handbasket, many large investors overseas still regard the U.S. as a safe haven--particularly Treasuries.

Now if everything goes as you predict, with a catastrophic fall in the dollar and a corresponding big increase in the price of gold, and generally awful economic conditions, I think that will be very good, for the Republicans who created the mess will be voted right out of office, and Congress will once again rein in the President, who wouldn't know the difference no matter what the economy was doing.

Art
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