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Pastimes : The Naked Truth - Big Kahuna a Myth
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To: Terry Whitman who wrote (54186)8/1/1999 8:02:00 PM
From: pater tenebrarum  Read Replies (1) of 86076
 
Terry, in '87 treasury secretary Baker was repeatedly in disagreement with the Germans over the need to stimulate domestic demand in Europe. on the weekend before the actual crash, he threatened to let the dollar fall if no appropriate measures were taken by the Germans. the bone of contention was the widening U.S. trade deficit, which had ballooned to a record the month before. nowadays we have Larry Summers berating Japan to stimulate it's domestic demand, the trade deficit is at a record high again, and so are share prices. but crashes have of course been exiled to myth-land.

hb
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