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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: russwinter who wrote (570)	9/5/2003 10:08:47 AM
From: Jim Willie CB	Read Replies (2) of 110194

Snow and Bush totally miss the Chinese currency challenge Bush says that raising the yuan peg is "in Chinese best interests" not for promoting more trade surpluses perhaps for avoiding internal bubbles from overexpansion built off surplus accounts in bank system Snow wants an exchange rate based on market equilibrium as Jack Nicholson said once "you cant handle the truth" the USEconomy could not handle a market-based yuan rate imported price inflation would hurt badly our economy imagine 30-40% of WalMart products rising 20-60% our financial leaders are hack amateurs we wanted low Chinese import prices until it drained our capital lifeblood now that we have an entrenched dependence on their cheap mfg, we want the prices to rise??? I have never seen so many Catch-22 situations - low shorterm rates must rise - high USDollar must fall - low Chinese yuan peg must rise - astronomical gold & silver shorts must be covered all will do horrendous damage to the US economy / jim

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