Re: Jane D'Arista on Doug Henwood's Show

[Doug Henwood <dhenwood@xxxxxxxxx>]

Michael Perelman wrote:

> Regarding the thread on exchange rates, yesterday Doug interviewed
> Jane regarding exchange rates, posing Ellen Frank's analysis to her.
> Doug might do better explain her analysis, since he was there.

One things she said was that foreigners don't need to dump U.S.
securities - they just don't have to buy new ones. Also, I think she
said that as U.S. imports fall, fewer dollars will be floating around
abroad looking for a haven. I'm not sure on that last point, because
you can't always listen with full attention while you're doing a
show. In a sense, Michael was more there than I was.

Another point - when the European financial markets are fully
euro-ized, they will be very deep and liquid. The bromide that big
investors have nowhere else to go but dollar assets is becoming less
& less true.

Did you stick the show out for the Tracy Quan portion, Michael?

Doug