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To: Oeconomicus who wrote (159796)	1/9/2004 11:28:28 AM
From: GST	Read Replies (1) \| Respond to of 164684

Good grief. The consequences of a lower dollar will take time to show up in inflation numbers -- the single most important commodity we import is oil and it is already showing up there. If you do not understand that we do not save enough to finance our budget deficit and that we borrow from abroad and thus increase our indebtedness and ongoing interest payments to foreigners, then you are beyond help. Enjoy your fantasy land where everything is free, all debts magically disappear, the current account deficit "finances itself", and the drop in the dollar has no impact on our foreign purchasing power -- see you later Bobo.