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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: LLCF who wrote (176541)	7/1/2002 1:31:02 AM
From: hdl	Read Replies (1) \| Respond to of 436258

nyc ends recycling of plastic and glass. it doesn't pay. much ended up in landfill. postage goes to 37 cents. many raises recently.

To: LLCF who wrote (176541)	7/1/2002 9:04:29 AM
From: Haim R. Branisteanu	Read Replies (1) \| Respond to of 436258

DAK, it is not as simple as every one wants to assume. Many have forgotten that Germany lost 20 to 25% of GDP in loans to Russia and other Eastern Europe countries. In general the London Club lost something like 2 trillion adjusted USD in the process. Now think what would happen to the US if $2 trillion in debt goes "puff". EZ still has a 9.1% unemployment rate and there are small chance of improving due to the influx of cheap labor from CEE and Russia, their problem is more acute than our Mexican problem as the social benefits are more than double those of the US. On more point 12 years ago we run a substantial budget deficit EZ was in surplus, now the US has 1.5% budget deficit and the EZ something closer to 3%. Small Portugal 3.9% to France Germany and Italy over 2.5%. GDP in the big 3 EZ is below 1% this year and they hope for 2.5% next year the US is 2.5% to 3.3% this year next year who knows ...... and those is only some aspects of the differential. The EUR run up mostly because EZ officials are desperate to have the EUR as a reserve currency and were able to drag along a big chunk of hedge funds who needed "Window Dressing" after a dismissal performance in Q2. IMHO a balanced EUR is some were between 0.92 to 0.95 or less. Personaly I wish the EUR should stay around parity... but I do not find any justification now