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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: 2sigma who wrote (634)	6/24/2002 11:46:52 AM
From: Jim Willie CB	Respond to of 89467

HapMan, been following the "climbing under" inflation effect it was at work in 1988-1993 when dollar last declined Ford had a chance to keep prices low versus foreigners AND DID NOT many others had the same chance AND DID NOT the Wall St Journal questioned their wisdom criticizing them for taking "easy kick in profits" rather than investing in the future, grabbing market share sound familiar??? take immediate gain and not invest in future? the American way, Haps the funny part that I see is how US made products contain a large proportion of foreign components Chrysler engines for instance are made by Mitsubishi !!! this is the horrendous consequence of global trade all mfg has moved away from US it gaurantees a severe recession in US when the dollar drops dollar looking sickly now at 107.6 the ignorance about its consequences are ASTOUNDING Roache of MSDWitter puts it best, from memory "the lower dollar will help our exporters and multinationals, but the damage from foreigners abandoning our economy and investment circles will render our consumers to a much weaker position with purchasing power" economists often say "lower dollar will bring slightly higher prices, and slower growth" THAT IS AN EXTREME UNDERSTATEMENT / jim