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

To: Terry Maloney who wrote (85701)	11/19/2000 9:06:51 PM
From: Tommaso	Read Replies (1) \| Respond to of 132070

You didn't ask me, but it appears that it has to do with foreign investment in the uS stock market. Money flows to where the value appears to be. In the later 1920s it was the broker loan rate with a gold standard that brought money from Europe. Now it's the decades-long rise of the stock market. Two weeks ago, or maybe a week ago, the New York Times estimated over $190 Billion flowing into the US stock market from abroad. We are not only sending our dollars overseas, but we are selling them our stock certificates at inflated prices.

To: Terry Maloney who wrote (85701)	11/20/2000 5:28:59 PM
From: Knighty Tin	Read Replies (2) \| Respond to of 132070

Terry, I think they realize, especially the Europeans, that they are selling a lot of overpriced product to folks with fat dollars. After all, it is hard to get Europeans and Japanese to buy like fools in the face of reality, so they have to depend upon Americans to be clueless. That is why they will support the dollar until it becomes very painful to do so. My guess is that the Euro is close to being trashed, and that is too painful a failure to contemplate, so we may be close to "no mas" time on the buck.