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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: Real Man who wrote (11965)	4/15/2004 4:45:57 PM
From: Jim Willie CB	Read Replies (1) of 110194

USDollar will surely crater, but it will occur in 20 steps I believe we have seen 3-4 steps so far tragically, each step guarantees the next step down because the mechanisms have been removed to control it no industrial mechanism, since mfg base is gone translation: we dont export shit no monetary mechanism, since higher rates are prevented in spring 2002, I made a prediction that the USDollar would decline markedly, but the trade gap would not budge GOT IT at the time, my reasoning was that we would continue to import from Asia, since we cannot purchase our own industrial output (if we dont have any) I knew the Asians would defend their currencies, with a longstanding history of protecting their exporters GOT IT the real curve ball in this mess is that economic growth can be encouraged by massive trade deficits SEE USA (of course, with coincident massive rise in debt) and that economic growth can be stymied by massive trade surpluses SEE JAPAN (of course, with coincident massive savings) is Robert Rubin listening ??? / jim

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