European Stars and Stripes (Newspaper) - December 9, 1990, Darmstadt, Hesse Sunday december 9, 1990 the stabs and stripes Page 13 to go up or is it evidence of a deepening recession in the United states is drawing mixed reactions from currency traders in Europe who make their living trying to predict which Way the Dollar is headed. Some of the so called experts say there a still a Good Chance the Buck will fall As Tow As 1.40 Marks in Germany from its current Perch of 1.48 Marks. Other economists however see the per Sian Gulf crisis continuing to lend the Dollar support. Petra Ott economist with Citibank in Frankfurt Germany is one observer who argues the Buck is headed lower. Weak economic reports from the United states including word Friday that unemployment is on the Way up will Lead to lower interest rates in the states and a declining Dollar she said. A the economic fundamentals being reported Are a Clear indication that the United states is already in a recession a Ott said. She said that will convince investors to sell dollars in favor of putting their funds to work in German Marks and other european currencies. Her prediction is that the Buck will Tumble to 1.45 Marks on the world Market next week a loss of three Dollar watch Randy Mcclain More pfennig and will perhaps fall even lower after that. A Tim Fox International economist with Midland Montagu Bank in London Isnit nearly so pessimistic. V he said the Dollar will probably Trade Between 1.46 Marks and 1.50 Marks for the near term. A it seems pretty hard to generate any momentum to push the Dollar sharply lower at the moment a Fox said. A a a a a a v he said that sentiment appears to be holding up despite the news Friday that . Unemployment reached 5.9 percent in november its High est level in three years. Non farm payrolls in the states also declined by 267,000 jobs the . Labor department said 1 but Fox said currency dealers pretty much shrugged off the dismal he does no to see a a huge decline for the Dollar in Large part because of developments in the persian Gulf where the possibility of War still word late last week that iraqis Saddam Hussein is willing to release All foreign hostages has convinced some observers that chances for peace in the Middle East Are better now than Ever. But Fox remains a septic. Quot it a i would be a Little bit cautious about Hussein a he said. A one Way of looking at the situation is that the release of All the hostages will give the . More scope to try military intervention if that a what they in other words with the hostages out of the Way the United states might believe it can Start an offensive without Large numbers of innocent people losing their lives. Fox said a weakness in the american Economy appears to be More and More entrenched a but As Long As the persian Gulf crisis drags on the Dollar will prove difficult to drive lower Ott of Citibank takes a different View the impending release of hostages by Iraq hints of peace and that removes one important Factor that has helped underpin the Dollar in recent weeks she said. T Fox said he does no to Rule out another Sharp drop in the dollars value after Jan 1, but for now he sees a relatively stable Buck. If peace Breaks out though currency dealers might once again focus on the a desperately disappointing economic news from the United states he said a and that will give the Market plenty of reasons to sell th#5l�r�nd�tripm business news one Stop used car Sale lets gis drive bargains by Joseph Owen Stuttgart Bureau Schwabish gm0nd, Germany Cash and ignition keys rarely Trade hands As fast As they did thursday at a special on Stop used car Sale at Hardt Cavern one of several sales the army is sponsoring to help departing soldiers unload unwanted wheels. Nine of the 22 private vehicles brought to the event left quickly with new owners and promising negotiations were under Way for several others said capt. Mark w. Unger of he Btty 2nd in 9th Field arty who administered the Sale. Shoppers even made several offers to the owner of a pickup truck that Wasny to for Sale but happened to be in the lot. The battalion car Sale is one of the first results of a . Army Europe recommendation to local military communities that they conduct group sales the sales should prove to be a Boon to troops who May have to leave Europe on Short notice and who might have trouble finding buyers among the dwindling . Military population in Europe. Soldiers in sch Libisch a mind Home of the 56th Field arty come face a particularly Tough Market. Inactivation of 2nd in is scheduled for mid january arts the entire command will be gone by july. There Are no other major . Military units in the City which is about 35 Miles East of Stuttgart. Other communities plan to hold such sales in the next few months. A / / the 2nd in Sale appeared to make the sales As painless As possible. V. It was Well advertised in military circles and the local German news Media. Anyone could attend. Fliers explained . Buyers and Sellers Legal obligations. And representatives from merchants Bank . Army Europe vehicle registration . Customs German customs and an insurance company were on hand to assist in the transactions. �?o1 think everything went right in that the Soldier got Access to everybody Unger said. Many of the vehicles were later models with relatively High prices contrary to what Unger had expected. Nonetheless the Bank representative was Able to con tact Sellers . Banks to terminate liens and could approve most new loan applications on the spot. The Sale served two purposes for Cheryl j. Kargul an american International underwriters insurance agent. She attended the event to sell insurance to american buyers and she also put her own 198s Ford escort it up for Sale. V As the afternoon Light waned she climbed in and out of it examining it As though she were a prospective buyer the escort triggers a lot of warm memories she admitted. Last year she packed the car with most of her belongings and drove Quot from her Home in Stillwater minn., to Georgia where her husband pfc. Jeffrey p. Kargul was undergoing advanced individual training. And there were the random jaunts with friends crammed in everywhere but the Glove Box. Quot now i done to want to give it up at All because the Good times i be had in it a she moaned. Spec. Troy a. Blair of he Btry had no such qualms about parting with his 1983 Buick Riviera even though a a it a a party car and if you go out its like ,.blair had a Tad a Long trip with his car my Back i had a Blowout a he said. Ackad to the roof. When he drove from new York to Ort Campbell ky., a there was so much weight in the. Now he wants to sell the Buick and buy a German car a so i can go As fast As these Guys going Down the Unger said he expects even More Sellers to the battalions next Sale scheduled tentatively for february. The Only improvement he Hopes to make is setting up an online computer terminal for the Bank representatives amps Joseph own sgt. Angel Paoli right of co a 38th signal in shows his car to a prospective German buyer. Used car lots were victims of plenty by Mary Neth staff writer Frankfurt Germany when East Germany s barricaded Borders fell last year the traffic rolled Westward. Highways were clogged with rusted trabant and car dealers in the West thought they saw a lucrative Market. The car dealers were right East germans previously confined to waiting years for a tiny Traci were eager to buy new and used cars in the Western land of plenty. Altogether 22 percent of the past German population invested in a Western car in the year that followed the opening of the East West German Border a recent study said. Used ears were the biggest Sellers. According to the Allensbach polling Institute .84 percent of East germans who bought a car got a used one. One Side effect was that the Sale of so Many used cars caused the Market for vehicles to dry up in the West used cars were scarce As hens Teeth for several months. Quot it was suddenly All but wiped out Quot recalled a spokesman for Glockler a Frankfurt Volkswagen dealer. A used car jots were swept clean Quot agreed a Salesman at Auto Scheurn. A Frankfurt opel dealer a Small cars and cars with catalytic converters were the big but most dealers say the used car Market in Germany is finally Back on its feet. A a the shortage of used cars lasted about four months a said a dealer at aut Markt Giesing a Mph a Munich used car Center. One reason for that car dealers say is that citizens in the Eastern half of Germany have stopped making big purchases because they fear hard economic times and unemployment Are ahead despite unification with the West. A a. A a now people Over there Are out of work they have no Money. They can to get financing. The used car lots Are full of cars that can t be sold a the Munich dealer said v Quot he said car sales should pick up again next year. A the Market is always slow at this time of year a he said. A during the Christmas season men Are out buying jew Eity for their wives and toys for the children. The car business always picks up again in the
