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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: LindyBill who wrote (1014)	5/13/2003 1:45:23 PM
From: KyrosL	Respond to of 794581

An orderly dollar drop helps the economy and the Bush reelection. If it turns into a disorderly retreat, however, all bets are off. It may do that if the world stops trusting the US. It's a 50-50 bet at this point, IMO. That's why I have rearranged my portfolio to include 50% non-US assets.

To: LindyBill who wrote (1014)	5/13/2003 4:36:47 PM
From: Condor	Respond to of 794581

re:Why Washington Isn't Sweating the Dollar's Drop. I hate it when the NYT plagiarizes my posts, they add a couple of hundred yada yada words and bingo...an article. Message 18931367

To: LindyBill who wrote (1014)	5/13/2003 7:08:38 PM
From: Bridge Player	Respond to of 794581

<< On "This Week" on ABC, Mr. Snow was asked, "Is the dollar now at a level where it can give a significant boost to exports?" Mr. Snow replied: "Well, you know, when the dollar is at a lower level, it helps exports. And I think that exports are getting stronger as a result, yes." But in a foreign market where traders say the trend is your friend, everyone is looking for any sign that the administration has backed away from its stated strong-dollar policy. So Mr. Snow's remark provided a reason to sell dollars overnight in Asia and early in Europe. The dollar rebounded a little in the United States as traders realized that the remark was not that significant. "Snow's comments had a modest impact on what is already an enormous trend," said David Puth, global head of foreign exchange and commodities at J. P. Morgan. >> Mr. Snow was chastised by the White House. Ari Fleischer had to "restate" his remarks to the effect that "the policy of this administration is a strong dollar". Even when it isn't.