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Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: Keith Feral who wrote (150390)	11/2/2004 8:50:22 AM
From: Michael Watkins	Respond to of 281500

> I don't know why the dollar would fall under a Bush win. < Record current account deficits, soaring debt for one. > The path for higher interest rates will continue to boost the value of the dollar. < Presumes a couple things: continued growth in the economy drives Fed to raise rates - growth is now slowing, the future remains a little murky in this regard; also presumes a continued international market for US debt. Half of US debt is held by foreign powers now, will that "market" always be there? > I think the whole profit taking shift may be a recognition that Kerry cannot screw up the mess that Bush has cleaned up. < Last I checked it was still a mess.