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Politics : THE WHITE HOUSE -- Ignore unavailable to you. Want to Upgrade?

To: DuckTapeSunroof who wrote (10542)	11/7/2007 8:59:04 AM
From: GROUND ZERO™	Read Replies (1) \| Respond to of 25737

Is this the beginning of the end? GZ

To: DuckTapeSunroof who wrote (10542)	11/7/2007 10:10:25 AM
From: DuckTapeSunroof	Respond to of 25737

Morgan Stanley warns on dollar (& even supermodels are refusing to be paid in dollars now... :-) marketoracle.co.uk ...This morning the U.S. dollar is down to 76.175. The dollar has again broken below previous support at last Friday's new all time record low at 76.22. This is very bearish. News that a top supermodel is demanding payment in currencies other than the dollar would normally be construed as bullish for the dollar as a contrarian indicator. However, given the fundamentals of the U.S. economy this is not the case. Brazilian supermodel Gisele Bündchen is refusing to accept payment in U.S. dollars. She has said that she is willing to be paid in nearly any currency apart from the dollar to maximise her earnings. According to Bloomberg, Patricia Bündchen, the model's twin sister and manager said: "Contracts starting now are more attractive in euros because we don't know what will happen to the dollar." This story echoes the one of Bette Midler demanding to be paid for her concerts in gold Krugerrands in the mid 1970s due to her concerns regarding the dollar. Far more worrying for the dollar is the fact that Morgan Stanley analysts have warned of a possible very sharp depreciation in the dollar. The decline of the dollar to record lows might turn into a "more violent correction" that requires the United States, the European Union and Japan to intervene in foreign exchange markets, analysts at Morgan Stanley say. "The dollar could potentially weaken meaningfully further," two Morgan Stanley analysts, Stephen Jen and Charles St-Arnaud, wrote in a note sent to clients late last week. "Though coordinated interventions may not be an immediate threat, they should now be on our radar screen." Any attempt at intervening in currency markets would be ill advised and in the long term futile. Ultimately the economic fundamentals of the world's economies will dictate the value of their currency and no amount of currency intervention will change this salient fact. Morgan Stanley's Managing Director in Asia, Stephen Roach, one of the most respected economists in the world, wrote that "With weak currency markets, gold is perceived to be a safe haven and that is expected to continue." Roach's recent bearish pronouncements are being proved prescient. "With both income and wealth effects under pressure," Stephen Roach said, "I don't see any way that saving-short, overly-indebted American consumers can maintain excessive consumption growth." "For a U.S. economy that has drawn disproportionate support from a record 72% share of personal consumption, a consumer-led capitulation spells high and rising recession risk."

To: DuckTapeSunroof who wrote (10542)	11/7/2007 12:32:17 PM
From: JDN	Read Replies (1) \| Respond to of 25737

you dont have to tell me that, I am presently taking a SHELLACING in the market as a good part of my portfolio is in fixed income securities. To top it off the equity portion of my portfolio is down also the past few days which is more puzzling as lower dollar SHOULD MEAN higher EXPORTS. As to China, they will likely find they have SO MANY $$$ That there is no other currency large enough to handle their volume, but then the media wouldnt have a sob story to tell. My real estate holdings are down too and a lot of that has to do with the continual NEGATIVE ARTICLES put out by the media to scare people. S.O.B.s are the ruination of America. jdn