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Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: T L Comiskey who wrote (126186)	12/27/2002 2:48:26 AM
From: Maurice Winn	Read Replies (1) \| Respond to of 152472

That was an interesting interview. investorshub.com <...A The fact is that the exposure of the U.S. financial markets to foreign investors and lenders has grown to such preposterous magnitude during recent years that controlled, gradual dollar devaluation no longer appears feasible. Under today’s extreme circumstances, the alternative is only between a strong and a collapsing dollar. Q Is there any cure for that? A In order to avoid the worst, the Fed may be forced to drastically raise interest rates? Q My goodness! A The dangers that loom on the currency front are immense. The grossly overleveraged U.S. financial system is hostage to a strong dollar and permanent, huge capital inflows. The U.S. trade deficit and the accumulated foreign indebtedness have reached a scale that defies any possible action by central banks. The fate of the dollar is beyond any control.> Thanks for the link Tim. That's what I like to hear and have been waiting for since June 1999. The script continues to play out. SUV owners could find the pleasure of owning a big brute of a machine isn't all that great when their house price is dropping, their interest rate rising, their salaries going nowhere [but maybe down]. Sure, an SUV is safer, [until everyone has a brute of a machine], but safety costs and cost means work and when already working fairly busily and when money is needed for more pressing needs, something has to give. Yep, they just gotta suck in those foreign dollars and do NOT want to face what will happen if the US$ goes into Hyperinflation Mark II [to coin a phrase] and free-fall into currency destruction. Companies that have debts will not be sitting pretty [especially if their income is insufficient to cover an increased debt bill]. Uncle Al must above all retain the power of the US$ as a stable, safe and pre-eminent means of exchange and [temporary] store of value without too much dilution [3% per year is tolerable - 5% in a pinch]. 2003 is not set up to be a quiescent year of lotus eating and troppo bliss. I like the response, "My goodness!" Obviously it was a novel idea to some people that interest rates can go up as well as down. Fortunately, QUALCOMM, Microsoft and the like will continue to suck in a lot of foreign money. But hundreds of billions are needed, so budgets will be stretched ... a lot... Mqurice