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

To: TobagoJack who wrote (25968)	12/10/2002 8:35:54 AM
From: elmatador	Respond to of 74559

It is happening is slow motion.

To: TobagoJack who wrote (25968)	12/10/2002 11:55:34 AM
From: Ilaine	Read Replies (1) \| Respond to of 74559

>>calls for competitive devaluation<< I told you months ago that I expected the dollar to weaken against other currencies, that it was being artificially propped up against the yen to let the Japanese work their way through their banking crisis. I also told you that the US economy was large enough and complex enough that we would weather it as we always do -- dollar up, dollar down. Dollar up means foreign goods are cheaper and we run a large trade deficit. Dollar down means foreign goods are more expensive and we run a smaller trade deficit. I don't buy many foreign made goods, but I am a regular consumer of real Parmigiano Reggiano. Oddly enough, even though the dollar is down against the Euro, Reggiano is cheaper than I've seen it in years -- $9 a pound. Guess the Italians want to keep selling whatever it takes? I've seen it as high as $18. (The $9 is precut at Costco, wrapped in heavy vinyl. It's better cut fresh from a whole cheese but once you cut away the outside it's about the same.) One more thing the Chinese can't make as well. Chinese crawfish tastes like garbage. Chinese honey is full of pesticides. US GDP is 20% of world GDP. China is about 3%. US has 288 million people, China has 1 billion. We can handle it. China will, too. Germany -- they never seem to get over the belief that clever central planning will take care of things. I am sure you can think of many clever ways to make money, and I wouldn't presume to give you advice, so this is just an observation -- nothing ever ends. People make money on the way up, people make money on the way down, and the market never closes. Even in the deepest darkest days of the Great Depression, most people in the US had jobs and enjoyed the low prices.

To: TobagoJack who wrote (25968)	12/10/2002 9:33:52 PM
From: Mike M2	Respond to of 74559

Jay, Benjamin M. Anderson Chief economist at Chase bank during the 20s one of the few who was critical of the 20s boom before the bust fff.org You can get his book from Liberty Press Mike