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To: Earlie who wrote (249764)	7/13/2003 1:33:11 PM
From: Haim R. Branisteanu	Read Replies (3) \| Respond to of 436258

Earlie, there are substantial amounts of money sloshing around and in a stagnant economy the FED is pumping / printing money at a insane rate of 8% annualized. research.stlouisfed.org Compare the rise in MZM with the rise in teh SPX or NDX and you will not be surprised. Based only on this data the USD should slide accordingly. The reason that the USD is holding up is the HOPE that things will improve. Unfortunate many can not discern between rise in unit sales and rise in sales due to inflation. The whole monkey business of hedeonics and rent equivalent of housing expenses is distorting the inflation picture. It is as bad as it can get all smoke and mirrors - the big boys care less as they reverse their position with a bush of a button. Not for nothing GM and others raised debt at 400 bp spread they are now manipulating the market to make up for their pension deficits.