Mish's Global Economic Trend Analysis Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Mish's Global Economic Trend Analysis

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Haim R. Branisteanu who wrote (14452)	11/1/2004 10:06:27 AM
From: mishedlo	Read Replies (1) of 116555

Fleck on the Euro moneycentral.msn.com I believe that in hindsight, we will look back on a news story from Oct. 21 as the biggest development in the foreign-exchange market of the last 19 years, since the Plaza Accord of 1985. In the Oct. 21 report, Bloomberg News reported that Dutch Finance Minister Gerrit Zalm, prior to chairing a meeting of the European Union ministers, said the euro's advance was "not an issue." When asked if worried about the currency trading at $1.30, he replied: "It is good for oil prices." ... These comments reflect a transformed mindset on the part of the European authorities. It was only last February, when the euro was peaking around $1.28, that they feared its appreciation would short-circuit their economic recovery. At the time, "brutal" was European Central Bank President Jean-Claude Trichet's description of the currency's move. But in reading the previous comments, it is clear that, in the last nine months, their psychology has undergone a sea change. ============================================================ IMO the thought process has undergone a sea of change but it is not going to create any jobs in Europe. It is going to cost Europe jobs which is the exact intent of the "weak US$ policy" Mish

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next