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Politics : Stockman Scott's Political Debate Porch
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To: Selectric II who wrote (28413)9/22/2003 11:30:40 AM
From: Jim Willie CB  Read Replies (1) of 89467
 
we're gonna hear a lot of garbage nonsense propaganda in the next couple weeks about benefits to multinational US firms

they got a pass in last 18 months with the euro runup
but with Asian currency runups, bigtime trouble
many reasons:
- we have an absolutely huge trade deficit with them
- they hold the majority of the 46% of foreign-held USTBond debts
- our consumer addiction dependence is largely with Asian products
- Asian banks have a large hunk of USTBonds in bank reserves, which due to fractional banking, puts their entire economy at risk
- as our interest rates rise from imported inflation, Asian holdings in USTBonds lose value with US$ and principal (double whammy)

that is enough, surely more than that
/ jim
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