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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: Kenneth E. Phillipps who wrote (358743)	2/14/2003 8:24:38 AM
From: gerard mangiardi	Read Replies (1) \| Respond to of 769670

Monetary policy has been loose for a couple of years. We will get out of this mess perhaps due to a continuing crash of the dollar. It is already about 25% cheaper against the euro than at its peak. I wouldn't be surprised to see OPEC start accepting Euros. Then the dollar really tanks and our exports will finally be priced competitively. We will have inflation at home but at least we will see a better job picture. Un fortunately at that point the fed starts to raise rates and the added interest on gov debt will really raise the deficit and we will have returned to the good old days of stagflation.