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To: jbe who wrote (22934)	5/27/1998 8:49:00 PM
From: mph	Respond to of 95453

<<I guess I am (overly, perhaps) conscious of the fact that nobody ( and no country) can be Top Dog forever. (It just takes Top Dogs a while to realize it.) >> There is a certain pup on this thread whose initials are Big Dog who might disagree with that assessment, perhaps not on a global basis. <g> mph (P.s. to S.W. was that too much encouragement?)

To: jbe who wrote (22934)	5/27/1998 8:57:00 PM
From: John Carpenter	Respond to of 95453

It should become very clear in the next year that Europe cannot have monetary union without political union. The fact that different nation states will need different monetary remedies(tightening or loosening) at different times will make monetary union untenable. The EMU members are also divided by language. In some cases, centuries of hostility will not be able to be cast away overnight. I often wonder why the US is the undisputed world leader. I don't believe it must last forever, but the US will likely maintain its hegemony for a very long time because we're the least fucked up of all the nations.

To: jbe who wrote (22934)	5/28/1998 11:32:00 AM
From: Tulvio Durand	Read Replies (1) \| Respond to of 95453

*OT* jbe, I too have wondered which market really leads. Before going to bed I check Asian market together with S&P500 and NSDQ100 futures to see where market will open in the morning. And I always wonder whether the Asian markets are leading or following the US market. Obviously sometimes Asian leads when news break after US markets close. And the same goes for European markets. Yes, I have been noticing European issues performing well recently, and the Euro will have significant impact on world markets. But Western Europe's trend towards Socialism, as in France's recent tilt towards 35 hr work-week, makes it less competitive in world markets. Accordingly, I'm staying exclusively in American markets. BTW, I find your posts very insightful and informative. Keep 'em coming. Regards, Tulvio