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

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To: Square_Dealings who wrote (16284)	11/19/2004 10:00:15 AM
From: mishedlo	Read Replies (2) of 116555

Greenspan Coin Toss Theory Greenspan:deficit means diminished appetite for dollars Friday, November 19, 2004 1:45:44 PM afxpress.com WASHINGTON (AFX) -- The large size of the U.S. current account deficit means that at some point that foreign investors will have less appetite for acquiring dollar assets, said Federal Reserve board chairman Alan Greenspan Friday, in remarks prepared for delivery to a conference on the euro in Frankfurt, Germany. Greenspan said it was impossible to know when the dollar would lose its lustre. Statistics have shown that forecasting exchange rates has a success rate no better than forecasting the outcome of a coin toss, he said. But the U.S. must boost national saving to make adjustment of the current account deficit easier. Reducing the federal budget deficit would be the most effective action that could be taken, the Fed chairman said ================================================================ Lose its lustre? WTF like a 30% drop is not losing it like no one saw this coming either? Is he from mars? Mish

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