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To: Les H who wrote (258930)	9/4/2003 7:54:25 PM
From: Freedom Fighter	Read Replies (1) \| Respond to of 436258

Les, The Chinese currency peg situation is getting a lot of press these days. I don't know too much about the other factors impacting trade with China, but the peg and other assorted currency manipulations in Asia to protect exports have to be hurting us. I'm a big US dollar bear, but I've learned over time that governments and central bankers have a great deal of ability when it comes delaying the inevitable. :-) Personally, I thought Greenspan's remarks were silly. I agree with him in principle, but it was another case of his typical denial (just like stock bubbles, unwarranted housing appreciation sustaining consumption etc..). He said that it doesn't matter if we lose manufacturing jobs as long as we create other values that people want (like services). That is true, but the problem is we are getting buried in foreign IOUs for a variety of reasons - meaning we aren't selling them those values - which is a major problem over the long haul.