James Arthur wrote:

On Feb 28, 1:33 pm, (Nico Coesel) wrote:
"Jim Thompson" wrote:

http://www.marke****ch.com/news/stor...7B40D68525%2DB...

Feb. 26, 2008

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As the broader market began to regain lost ground, crude prices for
April delivery gained 2.3% to a new high of $101.11 a barrel on the
New York Mercantile Exchange, surpassing crude's last record of
$100.65 hit last week.

Some people think the imminent downfall of the US economy is going be
a much bigger problem. The mortgage crisis is just the beginning. I
sure hope the next president has more sense. China and other countries
have huge amounts of dollars.

Rumors of our demise have been greatly exaggerated. (with apologies
to Mark Twain)

If the dollar is sinking deeper, they
will eventually cut their loss and dump their dollars at any price.

Not likely. Old saying: "If you owe the bank $100k and can't pay,
you've got a problem. If you owe the bank $100M and can't pay, the
_bank_ has a problem."

Or just wait a while and $100M USD won't be that big a deal any more.

--
Paul Hovnanian
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Stupidity kills. But not nearly often enough.