IMF Fawns on Its New Masters

[Dennis Robert Redmond]

"The euro remains in our judgment undervalued... Much of the
weakness in the euro against the dollar is shared by other
currencies, and appears to reflect factors specific to the
U.S. economy. One factor could be the surge in U.S. equity valuations 
since the mid-1990s, and the consequent boost to aggregate demand and 
capital inflows." 

<http://www.imf.org/external/np/ms/2001/062701.htm>

Also note how muted the calls for austerity are. The ongoing devastation
occurring in the chip market (30% crash, worse than 1985 and 1997
combined) seems to be concentrating the minds of the silicon bourgies
wonderfully. 

-- Dennis