Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: smolejv@gmx.net who wrote (33874)	5/18/2003 12:38:17 PM
From: Hawkmoon	Read Replies (3) of 74559

Too big to fail, eh? Dont cry for me, Argentina. Yeah.. it sounds shtty, but I believe it's the reality. Too many nations rely upon the US consumer markets, low currency exchange rates between their currency and the USD to subsidize their economies. The US economy equates to 30% of global GDP. The Euro is still the currency of a confederation*, and what the ECB wants (a strong Euro) is not always compatible with the political realities and needs in the various parts of the EU. The international banking community can bully nations, like Argentina, because they can. Argentina needs our loans to sustain their bloated government patronage and pension system (very European-like) more than we need to loan it more money. But bullying the biggest financial community out there, the US financial markets, would be a different trick indeed. But the next couple of years will tell.. Hawk

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