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Another interesting piece I've read in past few days, possibly also in
Barron's. It seems that there is wide variation in branded product pricing
throughout Europe. The switch to the Euro is expected to more closely
homogenize pricing throughout Europe with a resulting reduction in prices
and squeeze on corporate profits in the consumer products industry. I could
see this favoring further declines in European interest rates and possibly
some pressure on high European wages.
Regarding the Y2K problem, I expect that the problems in the US will be far
less spectacular than expected, however I expect the diversion of resources
to fixing Y2K problems and consequences to be far higher and more lingering
than expected by most economists - Yardeni excluded.
Earl
-----Original Message-----
From: swp <swp@xxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Sunday, November 22, 1998 5:29 PM
Subject: Re: Bond Prospects
>I think that the economy will eventually slow, but it might not be until
>later in 1999, maybe on the back of Y2K problems. The Euro will fail.
>Those guys still have not figured out that they have to spend every last
>Euro they have to fix their computers for 2000 (what is left anyway
>after converting for the Euro). So, the Euro, I think, will not be a
>problem (then again, I never thought they'd get this far, so I could be
>surprised).
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