Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.730

-1.3%

3:59 PM EST

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To: Tony van Werkhooven who wrote (12305)	1/26/1999 9:24:00 AM
From: Worswick	Read Replies (1) of 22640

Tony briefly in regards to an Asian example vs. what is happening to the south of us.... I sincerely regretted once using the term "competitive devaluation" in regards to Brazil. I asked my self, "Why in hell did I use that term?" However, if you now look (two days after the post thereabouts) my ideas that I worried about unfortunately were prescient. Japan is competitively devaluing. China will follow as sure as night follows day. In the new world ehre anyone who wants tos ell anything will have to devalue. THIS IS HUGELY, GIGANTICALLY DEFLATIONARY. Why? We are now in an economic ping pong tournament. Asia/South America/Asia. Because you can print money but you can't force people to buy things they might not need and might get cheaper in a few months. It is self reinforcing ....this waiting for cheaper prices globally. Gas around here is $.93 a gallon with a $.21 cent state tax included and what is the Federal tax. What a windfall. I worry, however, the will the other end of the snake will come around to bite us here. Will the buyer of last restort run out of money??? Don't laugh. That is the big question. It seems the monetary authrities are levering the stock markets ofthe world ever upwards so the west wil have plenty of money to spend. I keep using the word amazing. It is the only word that fits. My best to you, Clark

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