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Politics : High Tolerance Plasticity

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To: schrodingers_cat who wrote (23131)	10/28/2005 12:20:19 AM
From: Sun Tzu	of 23153

>> What I meant was that if there is under-priced capital on offer then the US economy will borrow it. So would I, if you have some <vbg> but that is not the same thing as saying I am very effecient with my money. >> You realize of course that trade balances are influenced by currency exchange rates and that under normal conditions exchange rates should move to correct trade imbalances? US is the exception because the deal with OPEC and a lot of other issues (that are political in nature and I do not want to debate so I keep them unsaid) have made USD the de facto world currency. Which is why US is the only country in the world that its foreign debt is in its own currency (a very foolish act on the part of foreigners, imo, but hey I will not refuse a good deal). To see this in action, consider that even when you have a consistent trade surplus with US and have no more need to use USD to buy goods from USA, you can still give those dollars to Saudis and get oil for it...this party may come to an end if as promised, Iran starts an oil market in Euro next year.

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