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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: BGR who wrote (71613)	12/14/1999 2:17:00 PM
From: Earlie	Read Replies (1) \| Respond to of 132070

BGR: Sorry I missed your post. With respect to the Euro, it could be well argued that it has done exceptionally well, given its difficult birthing events. The one thing that many investors try to slough over and ignore is just how massive the U.S. offshore debt is. By any meaningful standards, it is one enormous swamp. We have all been very lucky to this point in time, in that the U.S. debt picture has not become an international issue,....YET. It will, and when it does, I cannot for the life of me see how it can be dealt with except through a very ugly haircut to the buck and all things denominated therein. The fact that it hasn't happened YET, is not a good reason to think that it won't happen. Any kind of intelligent look at the intl. scene suggests that the pressure is just beginning to ooze into the picture and that it will continue to be a larger and larger issue. There are a lot of smug investors out there who do NO homework, and count on the trend as their friend. A trend continues only until it stops, or reverses. Markets that have spent years gradually moving into more parabolic activity typically give back most or all of their gains in astonishingly short periods. Japan's domestic savings is now largely a myth. Some two years ago, it was revealed that the giant "Postal Savings System" was already stuffed with government IOU's. Yes, they have plenty under the matresses still, but the big pots have apparently been ravaged already. Best, Earlie