Foreign Interest

We read in Business Week that up to this point in the year, investments in foreign stock mutual funds have outpaced U.S. funds by almost $4 to $1. Those investors who send most of their money abroad are obviously betting on one of two scenarios eventuating: One, that they will be nimble enough to reverse course in the event the dollar strengthens; and two, they believe that the dollar is in a permanent long-term decline because of America's seemingly intractable budget and current-account deficits.

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