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Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: Ahda who wrote (18508)	6/5/2003 2:23:03 PM
From: Jamey	Read Replies (2) \| Respond to of 82354

I think it is safe to assume that no company cares squat these days to saving our government or loyalty to employees. Saw an interesting report that says many high tech jobs are being farmed out to East India as they have highly educated labor pool that works for half of the wages and no state, federal taxes or pension plan to pay in to. Also many companies are moving offshore to evade taxes. Who is left to pay income tax, especialy when Baby Boomers retire leaving a shortage of workers to contribute to IRS? 50% of all S&P 500 companies owe huge amounts to their pension plans because they have skimmed that money and put it on their bottom line to show earnings on the GAAP accounting methods. That will come due by 2005 and they have to be accountable for those huge loans to their plans or go bankrupt. My wife is an employment analyst and most of her clients are middle age high income who have been layed off by the company to fill their positions with low wage employees. In many cases, they are training the very people that will replace them! My view point of US companies is that there has been too much greed and graft for too long. It is now time for us to pay the piper for their greed. I sincerely believe that we are headed for soup lines and high unemployment. I firmly believe that the European countries and the Muslims will do all they can to hurt America financially by selling their investments in US companies and the $USD. Americans can help themselves and America by buying physical gold, imo. James

To: Ahda who wrote (18508)	6/5/2003 2:32:28 PM
From: sea_urchin	Read Replies (2) \| Respond to of 82354

Darleen, just a small point. > if your dollar loses half its value your debt has doubled to those you owe. No. The debt is denominated in USD, being US Treasuries, bonds, stocks etc. So, if the USD falls against say the Euro, then the Euro can buy more, not, less US debt. In fact, the idea is that the cheaper the USD becomes against other currencies then the more the US can print ie create debt. My concern about the cheap USD is that, on balance, it benefits neither the US nor the other countries. It doesn't benefit the US, except from the debt point of view, because the US exports far less these days than it used to and imports will be more expensive. And it doesn't benefit those countries hoping to export to the US because their goods will be priced too high for the US consumer. So everyone suffers, except China, that is. Because the Chinese currency (yuan, remimbi) is pegged to the USD, China wins all the way to the bank and, in fact, because the other manufacturing countries will lose their export edge, China will gain an advantage over them, too. As I see it, should the USD devalue further Europe will be the biggest loser.