THERE IS A LOT OF TALK IN THE MEDIA ABOUT THE "DOLLAR RALLY."
BUT WHY? OK THE DOLLAR MAY BE RALLYING ON "TECHNICAL" FACTORS...BUT THE DOLLAR FUNDAMENTALS...IF ANYTHING...ARE WORSE NOW THAN BEFORE THE RALLY STARTED...
I DON'T BUY THE DOLLAR RALLY... ALTHOUGH I SUPPOSE THERE IS A LEVEL AT WHICH THE DOLLAR WOULD BE "TOO CHEAP"...
FEW THINK WE ARE THERE YET... AND THE FED WILL HAVE TO RECOGNIZE THAT IT CAN'T HAVE ANTI-DOLLAR POLICIES AND EXPECT THE REST OF THE WORLD TO BE PRO-DOLLAR.
MY SENSE IS THAT THERE IS NO THEORETICAL BASIS FOR THE CURRENT US ECONOMY IN THE ECONOMIC TEXTBOOKS...
TOTAL DE-INDUSTRIALIZATION HAS NEVER BEEN TRIED BEFORE...
NOW FROM THE POINT OF VIEW OF INTERNATIONAL CAPITAL...WHICH VIEWS INDIVIDUAL NATION STATES AS RELICS OF THE 20TH CENTURY...
OK, THE US AND IT'S PEOPLE ARE EXPENDIBLE...
BUT FOR AMERICANS LIVING IN THE US ECONOMY...BEING EXPENDIBLE FOR THE BENEFIT OF INTERNATIONAL CAPITAL AND "FREE MARKET MAGIC" IS LESS AND LESS DESIRABLE VERY DAY!
