elmat:
>>The US is siphoning capital from all corners of the world to keep the economy afloat and finance its deficit<<
Your rhetoric suggests that Uncle Sam is sticking up the corner grocery store in Tokyo, Berlin, Paris, Wellington, Sydney, Hong Kong, Kuala Lumpur, etc., etc., etc.
Let's think about what's really happening for a moment, shall we? (a rare occurrence around here) Individuals all around the world, of their own free will, are buying US dollars. That's it. End of story. No stick-up, no thuggery, no crime committed.
Why are they doing it? Because they like what they can do with US dollars better than what they can do with their own currency. That's it. Plain and simple. End of story. With US dollars, they can buy Uncle Sam's T-Bill's or Sam Waksal's Imclone equity, whatever. And they liiiike it.
You're a hard working, entrepreneurial guy, elmat, so please don't take this personally. Foreigners were net buyers of US equities to the tune of something like $10 BILLION in 1Q '02 because they STILL trust American businesses, American managers, American stock exchanges, American regulators and the US government a shitload more than they trust their own (Brazilian/insert banana republic of choice here) government, legal system, stock market, corporations.
And as far as this is concerned - >>The world economy has been drained of capital to a point which has impaired countries and companies to carry business on<< - I don't know what you're smoking, but send some to Joel - he needs it. |
