Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: TobagoJack who wrote (35036)	6/15/2003 8:08:57 AM
From: KyrosL	Read Replies (3) of 74559

Jay, I think Greenspan can keep the game going as long as the key goods producers of the world, such as China, Korea, Japan, are willing to send their goods over to the US in exchange for dollars at current exchange rates. Exchanging goods for paper that currently has a negative yield and in the future may be worth a lot less is good business for Greenie. It keeps inflation in the US in check while the Fed is effectively monetizing US government deficits. Asia is allowing the US to live way beyond its means by pegging their currencies to the dollar. The game will end only when Asia decides to float their currencies.

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