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To: Elroy who wrote (1219)7/4/2002 9:08:34 AM
From: Elwood P. Dowd  Read Replies (1) | Respond to of 4345
 
There were 3 economists on CNBC this morning and I watched for about 5 minutes. During that time, each one made a positive comment.
One said that the 40% of American companies do huge business overseas and that the strong Euro would benefit their bottom lines in the current period.
Another said that the U.S. trade deficit would narrow as exports increase because other countries will step up their orders to benefit from the value in goods as a result of the weaker dollar.
The third took a call from a viewer who said that everyone who had bought shares in the late 80s after "Black Monday" had become "rich" as a result of the strong market in the 9os and wondered if that would happen again. The economist replied saying that it is time to start averaging in, that all the accounting violators would be found out by the end of this year, and that anyone who bought stock between now and 12/31 would be "very happy" 2 years down the road.

El