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 (35726)	7/4/2003 4:02:04 PM
From: Maurice Winn	Read Replies (1) of 74559

<Given that a melon in Japan can run 10,000 times the cost of a different melon in China, no reasonable amount of exchange rate adjustment can save Japan.> Jay, you are using one word for two different things. I have painted a picture of my wife. I think it has equal value to the Mona Lisa and we just need an exchange rate valuation to match their prices, after all, they are both paintings of women. A melon in Japan isn't just a piece of fruit. It's a perishable work of art given as a gift and gifts have an element of expense to impress. It's like popping the cork from a bottle of Dom Perignon - the extra expense is part of the purchase as a mark of celebration. Popping the cork from some plonk for getting pickled is an action bearing little relationship to the Dom P. You need the venerable Big Mac test rather than the melon test to see whether currency adjustment is needed. Mqurice

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