Hi Bobby; I wouldn't have used the word uptrend, as it's best rebound
since august was a poor 6% , after all it got killed, and
that rebound was likely, and now it looks like it's going back
towards that low..people haven't caught onto what this is going to
do as soon as inventories get reduced, man we are headed for some
inflation in prices, ( like shoes and stuff ) just wait a few
months, it could hit like a freight train, just about the time
unemployment starts kicking butt, for a double whamy.
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Lets see how many people applaud Greenspam a year from now.
Harder margin requirements should have been put in place several years
ago, instead of him jacking with the interest rates.
Now the World Bank is concerned about HOT money, ( a little late
..little hell, a lot late. )
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There will be a lot of arguing about that back and forth, but not
much done. The Investment banking lobby is to strong to fight and
they wont give up their free ride very easy, if at all.
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A solution of sorts lies in TAXing Big money trades, ( not fixing
the exchange rate ) We need the World Bank and The IMF to act as
a clearing house, and tax half the spread on currency trades,
part of it go to fund the IMF, ( so as it become self supporting )
instead of just a bunch of slobs getting a hand out from the
general tax payers. Then half the tax gets ear marked and goes
back to what ever country's currency is "sold".
Like if the spread is 1% .5% is clipped, that's split between
the IMF, and the country who's currency was sold, the bankers will
scream but it would stabelize currency moves, and eat into
the profits of the short selling racketeers.
We will never have a real free market economy based on the value of
goods and services as long as we give the racketeers a free hand
to tell us who's money is worth what.
International currency exchange has to be taxed , or the free market is just a joke, done with smoke and mirrors.
Jim
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