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Strategies & Market Trends : Asia Forum
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To: Amelia Carhartt who wrote (5129)7/10/1998 2:43:00 PM
From: Robert Douglas  Read Replies (1) of 9980
 
Bonnie and Susan,

At the risk of being labeled a bear again, let me add one thing to the discussion on currencies. With a rapidly deteriorating current account, the US has relied upon massive capital inflows to propel its' dollar upward. This has been a self reinforcing process as a rising dollar has attracted more investment which supports further gains in the currency. When this cycle is interrupted, perhaps as you say by the Euro, the process will work in reverse. The US will be left with huge quantities of its' currency leaving the country via trade without the balancing effect of inflows from investment. I will be at the ready to short the dollar for a very long and nasty ride south.

Robert
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