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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Joe S Pack who wrote (22434)	8/9/2002 9:31:26 PM
From: elmatador	Respond to of 74559

Which nation is the biggest debtor in the world? How comes a J6P, a citizen of a debtor nation in the world have money to loan to anyone?

To: Joe S Pack who wrote (22434)	8/9/2002 10:30:26 PM
From: smolejv@gmx.net	Read Replies (1) \| Respond to of 74559

>>Yes you will have your turn. << You got to be kidding. We're waist-deep in the same s*t as US: According to the latest available figures, U.S. net foreign in debtedness,reflecting the cumulative current-account deficit, amounted to $2.3 trilllon at market value at end-2000, and to $1.9 trillion at current cost. Considering that the current-account deficit keeps running at an annual rate of more than $400b, new external indebtedness is now rapidly approaching $3 trillion or about 30% of GDR. And please note: 90% of that net debt increase has been incurred during the 90s. To emphasize the key point again: The total exposure by foreigners to the U.S. dollar — as measured by aggregate foreign-owned assets in the United States —amounts to well over $9 trillion... (from July Richebächer letter) So what? We talked about J6P signing the check for $30B, did we not? Well. First of all it's american dollars OK, but I dont know whose money it is - everybody chips in to stave off another domino from toppling, would be my guess. Second, what's the big deal about $30B? It's like saying "Hey, look, he's been drinking and driving again" and you have a half-empty bottle of bourbon in your lap with the hind seats of the car chock-full of empty glassware.

To: Joe S Pack who wrote (22434)	8/9/2002 10:31:41 PM
From: elmatador	Read Replies (1) \| Respond to of 74559

You guys are not alone. Two examples of how you are not alone on your lack of knowledge: The Economist: economist.com "...But two things were surprising about the new loan. The first was its size: it is the largest ever made by the IMF, even bigger those made to Asian countries in 1997 and 1998..." No it is not the largest ever. The Economist made a USD11billion error. Just look here. bradynet.com " Here is a chronology of events leading up to Friday's announcement by the International Monetary Fund of a $41 billion-plus package for Brazil to help Latin America's largest economy survive global financial turmoil..." The USD30billion of last week is on top of USD41billion of 1999. When the Economist show this level of ignorance, I have to forgive you guys on this thread. But i have time I can keep teaching you guys. It's my pleasure. I don't want you guys to make a fool of yourselves thinking that J6P "gave" USD41 billion in 1999 to Brazil and now "giving" an additional USD30 billion. If you think like that, gentlemen, you are J6P yourselves. Go clean the ash tray and dump those empty Budweisers cans in the bin! Lost money in the bubble? Well, if your level of knowledge of the market is as deep of your level of international finances, I am not wondering why! I think