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Strategies & Market Trends : Ride the Tiger with CD
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To: Bearcatbob who wrote (22087)11/28/2004 12:26:13 PM
From: Claude Cormier  Read Replies (5) of 312346
 
Bob,

If I can share my opinion, here it is, for what it is worth:

No doubt that the US economy is big and is there to stay. But it is slowly phasing out of the 1st position. It will take decades but it will happen. North America is simply outnumbered and will slowly fall behind Asia and Europe.

The current conditions are such that the USD is still overvalued. The world will adapt to new exchange rates. The Euro at $1.50 and the loonie at $1.00 will no doubt hurt Europe and Canada, but they will adjust.

Simply said, the imbalance created by the excessive borrowing and lack of savings of most Americans (and Canadians) in order to feed consumption must be corrected. The solution is a lower USD and eventually a lower loonie.

Although this can be call a crisis for the USD, it is very far from the end of the world. Prosperity will come again.
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