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Dollar deval? I don't see it. Japan is in the toilet. Singapore and
Thailand are headed there. China is still slow. Europe is sluggish with no
signs of recovery and their ECB is not loosening. Half of South America is
on the brink of default again and Argentina (or is it Peru?) is talking
about breaking the $ peg. Where is money going if not the good ole USA?
Bill Wolman on CNBC last Friday did point out that the last time the world
was in a circumstance similar to this one was 1930.
And regarding your inflation comment, I noticed that different media outlets
are beginning to push the concept of separating "wage inflation" from
"inflation inflation". Sort of like "PPI minus food and energy". Or "PPI
minus inflation" equals "no inflation".
Someone else (don't remember who) made a really good point that the thing
everyone is currently hanging their hat on, the fact that we may be in a
recession right now and unemployment is still well below 5%, could be the
one thing that torpedoes us on the rebound. The theory is that as soon as
the ecomony starts to recover, unemployment will start sinking again and
inflation will skyrocket.
Of course, with our trade balance where it is right now, if the $ did start
down, it would be a real bitch.
Kent
----- Original Message -----
From: "Bilo Selhi" <citadel@xxxxxxxxxxxx>
To: "Omega List" <omega-list@xxxxxxxxxx>
Sent: Wednesday, July 11, 2001 7:15 PM
Subject: $ "devaluation" rumor???
there is rumor circulating primarily
from overseas that $ will be aggressively
sold in the near future.
can anyone confirm?
also circulating a rumor about
new banknotes?
the buck is super strong now and
the time where the cost of money is
low and prices are shooting sky high
and the economy is crapping.
all what's needed to devalue is here...
who remembers the last time the buck
got devalued???
bilo.
ps. of course CNBC f..cking worthless propaganda
is saying inflation is under control and strong
$ is good...
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