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

To: yard_man who wrote (36742)	11/18/1998 12:48:00 PM
From: Lucretius	Read Replies (1) \| Respond to of 132070

No, I don't think it will help either of them. My premise is that foreigners aren't buying their own goods... let alone ours, and I don't care how much we cut the price by dropping the dollar. We drop it too much (I'm of course leaving out the disasterous effects on US financial mkts by this move), and those countries will impose tariffs or devalue in order that their domestic goods remain the "goods of choice." The dollar doesn't drop and they can't repay their debts... so we get Mr. Credit crunch. damned if you do, damned if you don't, IMO Fact is (to me) that this bubble has topped and the finacial perpetual motion machine doesn't exist. Uncle Al gave us the classic bounce before the crash, but that's all it is. However, on the other side, my neighbor's 5 yr old disagrees and recommends that Alan cut more so we can all buy internuts and retire early (G) -Lucretius