-->*ROFLMAO*


Greenspan says heavy foreign debt loads risky
Tuesday November 12, 10:29 am ET

MEXICO CITY, Nov 12 (Reuters) - Federal Reserve Chairman Alan Greenspan warned on Tuesday that countries that load up heavily with foreign debt increase their vulnerability to an economic crisis.

In remarks prepared for delivery to a Bank of Mexico conference on financial markets and economic development, the U.S. Fed chief said a country that relies on foreign-denominated debt impairs its own ability to borrow.

"Periodically, as an economy borrows its way to the edge of insolvency with debt denominated in foreign currency, government debt- raising capacity appears to vanish virtually overnight," Greenspan said.

Though Greenspan did not name any particular country, crisis-ridden Argentina had, prior to default in January 2002, nearly 97 percent of its debt in foreign currency. Currently it is urgently seeking aid from the International Monetary Fund to avoid default on its debts with the World Bank.
PRESERVE CREDIT

Greenspan said it was vital both for a country's solvency and for economic growth that it preserve significant unused financing capacity for use if necessary."Too often governments have endeavored to contain impending debt crises with inflationary policies that inhibit growth," Greenspan said.

The Fed chief noted Mexico and Chile were"relatively insulated" against the economic disruptions that Argentina and Brazil have experienced,"apparently reflecting market confidence that these countries are committed to sound policies."

In fact, Greenspan noted that Mexico's actions in recent years in signing a free-trade agreement with its North American neighbors, adopting a floating exchange rate and curbing inflation have sharply reduced its vulnerability to economic crises.

"This country now seems to be viewed by international investors as a 'safe haven' within the region," Greenspan said of Mexico.

Much of his speech was devoted to a discussion of free-market policies advocated by Adam Smith, and Greenspan noted that there was a need to defend the principles as market-based globalization takes place. Greenspan said free-market principles require broad acceptance as the best way to create wealth and cannot be imposed by elected officials or authoritarian governments.

-->Der ist echt gut. Ob er folgende Seite kennt?

http://www.publicdebt.treas.gov/opd/opdpdodt.htm

Es sind übrigens nur noch 130 Mrd. USD bis zur Zahlungsunfähigkeit.

-->>Der ist echt gut. Ob er folgende Seite kennt?
>http://www.publicdebt.treas.gov/opd/opdpdodt.htm
>Es sind übrigens nur noch 130 Mrd. USD bis zur Zahlungsunfähigkeit.

##Sorry, noch 128,6 Mrd.USD

-->Dollarkurs wie bei der Mexico-Krise 1994 haben:-)
1,36 DM für einen $. Das währe ja EURO/USD=1,44:-))))))

1994 gabs ja einen schönen Renten-Crash in USA (auf einem 10 Jahreschart wirkt er lächerlich).
mögliche Greenspan-Utopie: fallende Rentenmärkte=steilere Zinskurve=Wirtschaftswachstum!
Aber das Wichtigste:Stabiler Wert -in US-$- bei den"Kredit-Sicherheiten" also Aktien und Immos!
Zuerst blasen die Ausländer die US-Assets auf und finanzieren so den US-Kreditkarten-Konsum.
Und jetzt werden die Amis versuchen sich wieder auf Kosten anderer zu sanieren.
Ihre Waffen sind die ARMY und der DOLLAR:-)