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Politics : Stockman Scott's Political Debate Porch
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To: RealMuLan who wrote (19407)5/21/2003 9:50:15 AM
From: Jim Willie CB  Read Replies (2) of 89467
 
European companies are getting their nuts cut off

Phillips of Netherlands announced a sharp drop in foreign US operations (35% of their business) from currency translations
big drop in the stock

Europe will next go thru the painful transition that results when their currency rises from worldwide reserve status, which the USA endured all thru the 1980's and 1990's

- their imports will get cheaper
- but their exports will get hurt badly
- their mfg base will accelerate in its departure to Asia
- their multinational corporation finance will be badly harmed
- their economies will be gutted, with wealth engines replaced by debt exportation

welcome to the world with oceans of shifting shithouses, the result of currencies not tethered to gold

I used to think the USA's chief export was debt
that is still true
but our "other hidden" major export is monetary inflation
we print money, then send it abroad to pay for all bills
this ends up creating bubbles elsewhere

DOES ANYONE REMEMBER THE ASIAN MELTDOWN ???
it happened first in Thailand, from an implosion of debt and overcapacity
for God's sake, Thailand built an entire city that remains empty
if that isnt overexpansion, I dont know what is

now the same thing is happening worldwide
overcapacity, broken bubbles

THE UNITED STATES ABUSED, AND CONTINUES TO ABUSE ITS CURRENCY... WE SHIP IT ACROSS THE GLOBE, THUS INFECTING THE WORLD ECONOMY... THAT IS WHY A WORLDWIDE RECESSION AND POSSIBLY DEPRESSION IS CERTAIN

it will occur as the correction is enforced by Mother Nature, working in her economics pantry

/ jim
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