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Politics : Stockman Scott's Political Debate Porch
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To: stockman_scott who wrote (2238)7/16/2002 12:22:55 AM
From: Jim Willie CB  Read Replies (2) of 89467
 
no way, US$ decline is scaring living shit out of FedResve
it is their worst nightmare, not to be encouraged
a declining dollar is the underlying force behind the world's financial system scariest scenario
no, the Bank of Japan is working closely with US Fed here
the last coordinated effort occurred at $/yen = 118
now that exchange level is at 115

no, if anything, the Fed is attempting to manage the PACE of the decline
like coming down a 3rd floor ladder
they want to come down one step at a time, slowly
so far the painter has dropped his pail of paint
and he has broken a few wrungs on the ladder, with misstep
the damage to his right hip is painful
and he pulled his right hand muscle severely on another slip
he is hoping he doesnt fall off the ladder entirely
he has a long way still to go
his confidence is nearly depleted
he has called for safety nets, but none exist

/ jim
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