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

To: t2 who wrote (2362)	7/16/2002 11:44:01 PM
From: stockman_scott	Read Replies (1) \| Respond to of 89467

U.S. working group "PPT" has not met to discuss markets The U.S. government has not convened its top-level working group on the financial markets to discuss the slide in U.S. stocks and does not try to manage the market's daily moves, the White House said on Tuesday. biz.yahoo.com

To: t2 who wrote (2362)	7/17/2002 12:49:50 PM
From: Jim Willie CB	Read Replies (2) \| Respond to of 89467

good CNBC interview with MerrillLynch currency trader yday Insana gave the interview, asking only decent questions I got the impression he works out of the London office (wishing I couldve been the interviewer) here is what was said the guy said he had several direct anecdotal accounts Europeans are not selling US assets just now he referred to both stocks and bonds, but mostly stocks instead, they are simply not continuing to buy US stocks they are not on strike or anything, just holding back they are hesitant to add to positions while the dollar declines he commented on the latest substantial euro appreciation he commented on the how parity levels will NOT be the end here that more dollar asset selling is coming he said there is considerable "watching & waiting" going on unless US stocks stabilize, and recover with a new trend, that a second round of dollar asset selling will occur soon he thought it might happen as a bigger wave in a few weeks he thought the USdollar would decline another 10-15% at least and it would include broadly US dollar-based assets Insana overlooked all opportunity to inquire about perceptions of US regarding federal deficits, trade gaps, and war footings instead he only asked about corporate governance and that was way too brief so parity with euro is a mere pausing point then comes more declines, unless stocks not only recover, but show some clear positive trend fwiw/ jim