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Re: Could Monday be a BIG Down Day?
CivilBear - Fri, Apr 11, 2003 - 07:40 PM
:Also, while futures have lessened the
:chances of a cut, Alan is still behind the
:curtain with a couple of bullets left.
If Greenjeans actually lowers the Fed rate, the greenback is going to tank, big time.
Personally, I hope that the doddering old fool does lower interest rates again in hopes that he'll retain some of his waning popularity with the Wall Street crowd.
Fact is, with virtually no bullets left in his interest rate gun....and with his previous dozen cuts doing NOTHING for the overvalued U.S. markets...lowering interest rates will be an exercise in futility and could lead to a near-collapse of the U.S. dollar.
Meanwhile, Bank of Canada kingpin Dodge appears set to RAISE the interest rates of that country (the big pink blob above the US on your map) from its current rate of 3%. Seems Dodge sees inflation happening...something that Greenie can't see in the U.S. Mind you, Greenjeans also can't see any kind of bubble.
Canada has a trade surplus, a budget surplus and is rich in resources. The U.S. has a massive trade deficit, a record budget deficit and is good at shuffling paper.
Kind of makes this Canuck livin' in Mexico somewhat cheerful about currency issues. Needless to say, this is a relatively NEW feeling for me.
Watchin' the Canuck Loonie Rising,
CivilBear
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Re: Could Monday be a BIG Down Day?
CivilBear - Fri, Apr 11, 2003 - 07:40 PM
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