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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Joseph G. who wrote (29415)	6/29/1998 11:19:00 AM
From: Knighty Tin	Read Replies (3) \| Respond to of 132070

Joe, The only problem with that move is that the European economies are stronger with their corporations having actual earnings growth. Our eps growth, even nominally, is very weak and if you take out the buyback and options scams, probably negative. Plus, our trade deficit is horrendous. So, the trend may be positive for the greenback vs. the DM and other European currencies at the moment, but I believe we will have a turnaround. The Europeans seem intent on making the new paper an alternative reserve currency to the dollar, and they can't have it drift too far its first year. And the U.S., with our trade deficit, is not going to fight their effort. MB