Novell (NOVL) dirt cheap, good buy? Message Board

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Technology Stocks : Novell (NOVL) dirt cheap, good buy?

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To: BP Ritchie who wrote (19106)	12/14/1997 10:53:00 PM
From: Paul Fiondella	of 42771

Korean crisis is far from over and there is more not less to come This question in Korean is default. In fact I have read several articles in which a debt moratorium is considered as the only way out for the country. Look at Korea as basically insolvent at this point. It cannot pay its foriegn loans and cannot get foreign credit even for routine import/export transactions. Japan holds a great deal of Korean short term debt. Japanese banks will be asked to roll it over. But Japanese banks have their own bad debt problems and do not look willing to loan good money to bad debtors. Finally you have the beggar thy neighbor devaluations, the trade war that will heat between Asian countries for western markets, and the economic decline in Japan. Japan is slipping down into the pit. If it falls in (Watch the Nikkei slip below 15000 and the yen/dollar) then one of our largest trade partners isn't going to be buying anything. The IMF money isn't going to be enough. The question is will the western countries come up with another mechanism or will Korea be allowed to default.

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