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 (37376)	8/23/2003 1:25:06 AM
From: marek_wojna	Read Replies (1) of 74559

<<<<The USD is still a global reserve currency, needs to be held aloft by its sponsors, namely the US, Japan, and China, so as to tap some balance sheets to finance the building of the next abracadabra>>. That explains why record internal & external deficits are not even noticed too much. Since I strongly oppose the view of AG that United States will offset loss of manufacturing jobs by creating "information age economy" (these information industry jobs are being exported even at the faster rate than manufacturing" Americans will soon loose the status of the # 1 consumer of the world. Will the dollar be able to keep the status quo then? Will the China and all other countries who have huge trade surpluses will still support the currency of the country which cannot afford to buy more of their goods? Solution is US will turn communist on economic front and soon will start dropping money from the planes to their public, not only to the chosen houses. On political platform they already surpass former Soviet Union in controlling their citizens so we are already halfway there.

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