On Aug 13, 2007, at 10:11 PM, bhandari at berkeley.edu wrote:
> We do know that so much of US corporate
> profitability has depended not only on operatations abroad but also
> on the
> free ride of dollar depreciation.
A lot of that is euro appreciation. Last I looked, about half of the stock of FDI and MNC profits abroad were in Europe.
> I don't believe that Paulsen gives a
> damn about smaller biz, much less worker electoral ire.
He has to be seen doing something in order to head off Congressional action, like trying to force a renminbi revaluation. I don't think he's serious.
Doug