On March 6 in Intermed II I repeated a presentation I did for DeSoto Rotary. I showed how the stock market rally since 9/11 was ilusory, in Euro terms it has been much less than the run up to March 2000. And we presented the turn towards dark themes of pop culture as shown by the Academy Award picks.
By the time you read this March 17 article in the WSJ, the facts will have come and gone. But WSJ is correct, cutting interest rates has not worked, the crisis is the worst yet. I frankly do not understand how the FED can keep rates this low in the face of such dollar weakness and have said so and written so. As i write Bear Stearns went poof and Asian stocks are down 3-5% looking for a lower opening in New York.
When will we start defending the dollar?
Professor Elam 
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