Doug did a real good analysis of the euro in LBO #82; he also has a inteactive version on his website. I have been and will be quoting Doug to my union pals. If they get it, is a whole other story. Our retired international president Lynn Williams spent years trying to explain foreign exchange to steelworkers including myself. Our current international president George Becker has been trying to explain the IMF and the World Bank to steelworkers including me. So the ground work has been layed.
It's a fluid situation. Hopefully we will not get bit in the butt by the euro.
I think Lester Thurow compliments Doug.
Your email pal,
Tom L.
J Cullen wrote:
> If there is a run on the dollar, causing it to fall in value versus the
> euro, could that be a good thing for American producers, since American
> products would be more competitive on the world market? In other words, who
> gets burned if the dollar falls, bankers or workers?
>
> -- Jim Cullen
>
> >Tom:
> >
> >Have not read it, but if the message is that the euro will provide global
> >funds another safe haven alternative to the dollar, causing a run on it and
> >forcing it to fall, Thurow has been saying that for almost a year.
> >The prospect is real and imminent. Most central banks and institutions are
> >fully set up to move on January 1, 1999. Much dollar assets are already
> >hedged.
> >
> >Henry
> >Tom Lehman wrote:
> >
> >> Dear Doug and the LBOers,
> >>
> >> Anyone read Lester Thurow on the Euro in the January 11th edition of the
> >> Nation. Anything tu-it.
> >>
> >> Your email pal,
> >> Tom L.