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Pastimes : A Jackass, his PAL(indrome), and GOLD

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To: philv who wrote (643)2/6/2003 12:48:05 PM
From: Jim Willie CB  Read Replies (1) of 1210
 
maybe US, Europe, and Japan all falling into Liquidity Trap?

I think US has more of a chance than Europe
Europe has much less collapsing debt
we live, breath, touch debt debt debt
we love debt, and will get killed by debt
Europe regards our attitude toward debt as insane

Europe has another advantage
their rising euro currency offsets some rising commodity costs
their energy costs are more stable
their industrial metals are falling in price
but I believe their food prices are troubled like ours
we suffered droughts, while they suffered floods last year

/ jim
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