Currencies and the Global Capital Markets Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Currencies and the Global Capital Markets

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Skeet Shipman who wrote (2169)	10/9/1999 3:33:00 PM
From: Thomas M.	Read Replies (1) of 3536

( from your link: theatlantic.com ) "... When Japanese banks suddenly stopped lending to the rest of Asia, and probably recalled some existing loans as well, they burst the bubbles they had done so much to inflate ... The Asian bubbles were going to burst anyway, as all speculative bubbles must, but a comparison of dates implicates the announcement of the approaching Biggu Ban as the pin that did the puncturing ..." This is an interesting point. It seems so logical, yet I don't recall anyone ever saying it. Marc Faber also asserted that it was the Japanese pulling money out of Thailand which triggered that first domino. I tend to believe Sayle and Faber, that hedge funds merely piled on and exacerbated the panic, but were not the proximate cause. So, as the U.S. bubble in 1929 and the Japanese bubble in 1989, it was a government-induced tightening in credit which burst the bubble. Tom

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next