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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: mishedlo who wrote (19457)12/23/2004 3:43:37 PM
From: patron_anejo_por_favor  Read Replies (1) of 116555
 
Definitely agree with Rodger on this point:

The dollar is overvalued because of Asian intervention and becoming more overvalued with every month of continuing trade deficits. Period.

It's important to stress that Asian intervention doesn't just mean the usual BOJ efforts at propping up the dollar...the pegged Yuan is an ongoing intervention that goes on day and night until the Chinese cut it loose. And it has the same effect, of propping up the dollar. Another way to look at it is that the dollar is "pegged" to the Yuan, since the Chinese economy is performing better than the US....when that peg is cut, look out beeeloooooowwwwww......

...or as Soundgarden (and Johnny Cash) said:



You wired me awake
And hit me with a hand of broken nails
You tied my lead and pulled my chain
To watch my blood begin to boil
But I'm gonna break
I'm gonna break my
I'm gonna break my rusty cage and run
Too cold to start a fire
I'm burning diesel burning dinosaur bones
I'll take the river down to still water
And ride a pack of dogs
I'm gonna break
I'm gonna break my
I'm gonna break my rusty cage and run
Hits like a Phillips head
Into my brain
It's gonna be too dark
To sleep again
Cutting my teeth on bars
And rusty chains, I'm gonna break my
Rusty cage and run
When the forest burns
Along the road
Like God's eyes
In my headlights
When the dogs are looking
For their bones
And it's raining icepicks
On your steel shore
I'm gonna break
I'm gonna break my
I'm gonna break my rusty cage and run
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