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To: H James Morris who wrote (143312)6/24/2002 11:35:45 AM
From: GST  Respond to of 164687
 
re: <the "mother of all" current account deficit problems> -- it was always only a matter of time. The currency traders will be relentless. Anybody who does not have to be in US dollar financial assets is a fool to stay at this point -- risky business.



To: H James Morris who wrote (143312)6/24/2002 12:08:37 PM
From: GST  Respond to of 164687
 
Yes, and Morgan Stanley puts it well: "It’s crunch time for the old recipe of US-centric global growth. What worked so brilliantly for the past seven years seems unlikely to do the trick this time. Global risks are mounting and there may be no easy way out for world financial markets."