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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 (10694)	3/23/2004 9:34:17 AM
From: Art Bechhoefer	Read Replies (1) of 110194

Jim, are you saying that the situation in Afghanistan and Iraq, and all the additional U.S. expenditures overseas related to those and other areas of tension had nothing to do with the U.S. balance of trade? One can't predict what steps a government will take (especially the current one in the U.S.) when it comes to dealing with these issues. I don't imagine that the illegal U.S. tariff on steel products gave overseas suppliers much incentive to go out and buy more U.S. products. What I do know, however, is that many large U.S. companies with major penetration overseas greatly increased the dollar denominated value of their revenues and earnings derived from overseas sources. Examples include 3M, Caterpillar, IBM, Coca Cola, Avon Products, General Electric -- the list is extensive. Art

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