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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: Jim Willie CB who wrote (6994)2/5/2004 7:33:10 PM
From: BEEF JERKEY  Read Replies (1) of 110194
 
"Despite its depreciation over the last year, the dollar still appears overvalued from a medium-term perspective, and the risk that its adjustment may become disorderly - or that it might overshoot - cannot be ruled out."

The author compares the current situation / cycle to what occurred in the 80's but other factors also work against the dollar value that were not so prominent then. The world is now more awash with excess US currency while less gold is held by Central Banks. The Fed has been and continues too be far looser than in the 80's. Further the US has been gutted of its manufacturing base. Throw in the much higher debt burdens of the US consumer and the resilience of the US economy now must be questioned. It could be that the US buck depreciates so far it even surprises the worst pessimists.
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