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

To: valueminded who wrote (52301)	3/17/1999 9:26:00 AM
From: Mike M2	Respond to of 132070

Chris, yes the dollars reserve status has enabled the US to inflate the money supply with greater excess than would otherwise be the case. The dollar bears would argue that the dollar strength is due to the strength of the US economy but when we go ito recession -this year the dollar may decline. There are limits to this think about it we exchange paper and ink backed by our power to tax and we receive real goods. Too good to continue forever. Yes the falling dollar will be an inflationary force but I feel the liquidation of the excesses in private debt and falling asset values will overpower this and we will see deflation. mike