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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: Chispas who wrote (6371)1/28/2004 5:47:23 PM
From: russwinter  Read Replies (2) of 110194
 
<Oil, It MUST be paid for with dollars that are more stable.>.

I agree that much of this has to do with throwing a little bone at the USD to placate both the Europeans, and OPEC, and to give the Japanese a little respite. It's all probably a four way deal, US will take this baby step, Japan will let the Yen float a bit higher, Europe will stand pat, OPEC may try (if they can, as they are near full capacity) to cap oil at $34. Problem is it's not going to be enough, and especially as the inflation breakout becomes more obvious to the deadfish out there. Anybody who bothers to look at the evidence can see that the market will next be "surprised" by much higher inflation reports. The Fed and other CBs reaction will be muted and too slow, thus further fueling the fire. Greenspan's historic slow mo incremental approach is going to murder the world economy this time.
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