[TheForge] Price of steel & scrap-OT

Fri Apr 9 01:04:01 2004

Final note; In reality OPEC members havn't really cut production and 
probably won't... many of them cheat on the quotas....PF

Bob Smolen wrote:

>With the large deficit, excess of imports vs exports, and low interest
>rates, foreign  currency holders view the dollar as being less attractive.
>It seems natural that the dollar will weaken making foreign goods more
>expensive including the cost of foreign services. In theory this should help
>reverse or slow the current trend.
>I have read that some economists predict the U.S. must allow the interest
>rate to rise to attract the foreign investment in U.S. securities which is
>needed to fund the deficits.
>What happens to this economy if interest rates go up?
>Construction is hit first I would think.
> High interest,high oil prices due to OPEC restricting supply does not paint
>a pretty picture for our or the world economy. I dont pretend to really
>know. I still remember when I did not think the DOW would ever hit 1000.
>If interest does go up, those close to retirement might fare a little better
>if they have a nest egg in monetary assets vs equity. I thought this all
>thru the go go 90's(I was not in equities) so probably a safe bet it wont
>happen.
>Anybody have a clue?
>Thanks,
>Bob
>
>----- Original Message ----- 
>From: <[email protected]>
>To: <[email protected]>
>Sent: Thursday, April 08, 2004 10:17 AM
>Subject: Re: [TheForge] Price of steel & scrap
>
>
>  
>
>>In a message dated 4/7/2004 10:08:41 PM Pacific Standard Time,
>>[email protected] writes:
>>What no one seems to recognize is that the rise in steel and fuel prices
>>    
>>
>>>we are seeing , are in substantial part, due to the recent, deliberate
>>>devaluation of the dollar. Bush may say that the national debt doesn't
>>>matter, but..............Pete F
>>>
>>>Mike wrote:
>>>      
>>>
>>A good point. I think it is all of the factors put together. What they all
>>have in common are short sighted, very selfish attitudes. Perhaps that is
>>    
>>
>where
>  
>
>>the expression "blind self interest" comes from.
>>Mikey
>>
>>
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