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To: Merritt who wrote (55981)	10/21/1998 3:11:00 PM
From: Lee	Read Replies (1) \| Respond to of 58727

Merritt,..Re:Now our gov't would like to saddle the U.S. taxpayer with the problems that these countries created. You are correct in my view. The US taxpayer, otherwise known as insatiable consumer, is expected to carry the load. And on a weaker dollar too. You are also correct about the steel industry. (I used to work there indirectly). Message 6094242 The only problem is that Greenspan didn't have a really good alternate choice because of liquidity problems, (caused by hedge funds). Regards, Lee

To: Merritt who wrote (55981)	10/21/1998 3:21:00 PM
From: James Strauss	Read Replies (1) \| Respond to of 58727

Merritt: When I'm talking about lower priced imports benefiting the U.S. consumer I'm not including dumping... Dumping hurts us... But normal imports to the U.S. are good... If we close our doors they close theirs... During the early eighties when the dollar rose against the other currencies U.S. auto makers had a big chance to maintain market share by lowering the price of its cars... Instead it raised prices... This made our cars less price competitive than the imports... The Europeans and Japanese increased their share of the U.S. market at that time... To top it off, the imports were perceived as better quality cars... After a decade of taking our lumps we became lean and mean and more competitive... That never would have happened if we didn't have the competitive threat of cheaper and higher quality cars from Europe and Japan... In the end, the American consumer now has better made American cars... Jim