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Strategies & Market Trends : Natural Resource Stocks

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To: Jim Willie CB who wrote (3854)	11/25/2003 12:06:24 AM
From: The Vet	Read Replies (1) of 108642

On the same theme... Dollar markets are increasingly hostage to two conflicting groups: the bond market vigilantes who fear inflation and the exchange rate vigilantes in Asian central banks who buy US Treasuries as a way of keeping their currencies competitive. It is an unstable equilibrium, made more unstable by a US administration that erects protectionist barriers against China, the second biggest financier of the US external deficit after Japan. We thus have the bizarre phenomenon of a managed decline of the dollar, in which all the management is provided by the Asians and none by an increasingly inept US whose current account deficit runs at a scarcely believable 5.25 per cent of gross domestic product. news.ft.com And to make matters worse... If somebody owes you money, and has been lending you more as you demand it, do you slap him in the face? The US Commerce Department ruled on Monday that China was selling television sets below cost in the US market, a decision that could result in import duties of between 28 and 46 per cent being slapped on some of the most popular brands sold in the US. news.ft.com

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