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To: X Y Zebra who wrote (49866)	1/8/2004 1:22:15 PM
From: Diana	Read Replies (1) \| Respond to of 57110

Poker game. That's the best definition for this. Bush has shown a talent for playing Texas Poker with the Civilized World. Quick morphing Barbarians always win over those who believe in the status quo. The Japanese and Chinese kept playing the US$ for nice gains so Dubya just changed the rules. "OK Asia, here's a weak dollar and it's accompanying cheaper American exports." I've always admired a good Barbarian.<g>

To: X Y Zebra who wrote (49866)	1/8/2004 1:47:04 PM
From: MulhollandDrive	Read Replies (2) \| Respond to of 57110

A lower dollar may help many US corp to weather this re-adjusting period while the US figures out in which way they can "fit productively" under the current transformation of wealth (from West to East). After all, there is a lot of technology in which the US is leader. hi xyz... very belated happy new year :) i agree with you.....one caveat though that is of concern to me is that with the continuing slide of the dollar it would appear that OPEC has decided to raise the upper limit of crude testing the waters i think, it seems that they may be concluding the u.s. can handle the uptick in crude without hurting the broader economy ....maintaining prices in the low to mid $30's instead of the mid to upper $20's... i think the jury is out on that for now...personally i think it could be a drag on our economy if it persists much longer.

To: X Y Zebra who wrote (49866)	1/8/2004 4:46:39 PM
From: Lazarus_Long	Read Replies (1) \| Respond to of 57110

Is the ECB the patsy in this game? Message 19668403

To: X Y Zebra who wrote (49866)	1/12/2004 5:30:47 AM
From: zonder	Read Replies (3) \| Respond to of 57110

Gold ? the Dinar ? maybe... or ? The Euro... I doubt it... I guess you did not notice that Central Banks' EUR reserves have increased over the past year as USD reserves have decreased. Besides when I referred to Central Banks possibly finding "better things to do with their reserve money", I was referring to the example I gave immediately afterwards - China bailing out two of its banks with USD 45 bn of reserve money (USD t-bills which will inevitably be changed to local currency now for liquidity reasons). A lower dollar may help many US corp to weather this re-adjusting period while the US figures out in which way they can "fit productively" under the current transformation of wealth (from West to East). After all, there is a lot of technology in which the US is leader. The problem is not technology but wages. The difference between US wages and those in some Asian countries is so very much that a 30% devaluation in USD does not help much to close the gap, I am afraid. The Europeans are not helping their own case by not lowering rates They might. Again, they don't really have to. Eurozone is officially out of recession, and there does not seem to be a need to put the pedal to the floor. ECB might be content to just watch the economy move back to health slowly. Such interventions are serious jolts that need to be administered in small and careful doses, IN ADVANCE of anticipated problems. Think of the economy not as a bike you can turn, accelerate, and skid to a halt in seconds, but as a boat in a marina - you give it a bit of gas and then wait for it to turn, then you give a bit more of gas steering it in the desired direction, wait a bit more for the turn to take place...