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Technology Stocks : Qualcomm Incorporated (QCOM)
QCOM 165.13+1.1%Nov 26 3:59 PM EST
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To: DaveMG who wrote (14818)9/10/1998 3:25:00 PM
From: dougjn  Read Replies (1) of 152472
 
The bad thing about the Euro, potentially, is that it could become a rival reserve currency. The US runs big, and getting much bigger, balance of payments defecits. Our debt to the rest of the world gets bigger all the time. Meanwhile, until recently all our own money has gone to equities.

Well, if people decide that they want to hege their dollar reserves by replacing some of them with Euro reserves, that will put downward pressure on bonds, upward pressure on our interest rates. And would not be good at all.

Nothing dramatic is likely to happen soon. But even some significant swing at the margins, perhaps combined with alarmingly balooning US balance of payments, will hurt at the margins.

Doug (chicken little2)
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