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To: SeaViewer who wrote (4910)	7/20/2000 11:14:58 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 436258

yep, but the foreigners are in a bind...they're like a banker who lent out more than he originally planned to lend out, and must now fear if he forecloses on his main customer he will go bankrupt himself. it's a very tricky situation...Europe, China/HK and Japan are collectively sitting on well over $1 trillion in USD reserves...what to do? can't let it go up in smoke... and the inimitable Greenspud prints ever more of the stuff...what a glorious scam...

To: SeaViewer who wrote (4910)	7/21/2000 12:21:17 PM
From: Earlie	Read Replies (1) \| Respond to of 436258

Jeff: Right on the money. As long as the foreign money managers continue to offset both the staggering U./S. trade deficit as well as the huge U.S. current account deficit, this tulip will continue to stand. On the other hand, should the foreigners start to become "antsy" about any aspect of this leaning tower of Greenspan, then their quiet (or otherwise) exit would exacerbate an already bad situation. By the way, while I know that you are aware of this, it bears repeating that it is U.S. borrowers (both corporate and government) travelling to Europe for their borrowing needs that creates much of the U.S. fund inflows, and not just the purchasing of U.S. stocks by foreign fund managers. Should offshore lenders get tired of the crush,......... I'm keeping a closer eye on the buck than I ever have in the past. Best, Earlie