The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Tommaso who wrote (113107)	3/27/2008 2:52:19 PM
From: Paul Kern	Read Replies (1) of 306849

Thai economy. The Thai currency, the Baht, collapsed, and huge amounts of short-term capital flowed out of the country overnight. The Thai stock market dropped 75% in 1997, and the largest Thai finance company collapsed. The economy slowly recovered thanks in part to an IMF ‘rescue package’ of almost $20bn, as well as imposed governmental austerity measures. " Maybe the 75% drop includes the currency loss. Maybe the chart I posted was in Thai currency. But, hey, it's really different this time because we're the big debtor nation that can't pay its bills.

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