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Strategies & Market Trends : Currencies and the Global Capital Markets
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To: Hawkmoon who wrote (2980)1/20/2001 8:57:53 PM
From: Step1  Read Replies (2) of 3536
 
Ron, yes the article pointed out the problems and discussed a number of solutions, although, now to declare a debt repayment moratorium would in my mind be:
1- the ultimate in moral hazard (since the most indebted and least viable companies would get the most support from the plan)
2- politically , a hard sell to the masses
3- trying to deflect the forces of capitalism while moving to socialize and regulate businesses even more.

while i can t suggest any smart way to get out of this mess, in my opinion, nature will have its way, the longer you wait the more damage. It just has to run its course.

On the retirement plan of most Japanese, i disagree, or rather let me rephrase it this way: " the only retirement plan that many Japanese trust is money in the bank"

Ron, i have lived in Japan for the last 8 years. There is plenty of money in Japan, it`s just that a lot of it is going to waste on prolonging the life of walking deads... Long Term Credit Bank of Japan went bust , and while that was traumatic to the market, after a brief period it was taken over and started operating again under the Shinsei Bank name. It was instrumental in forcing the Sogo Dept store chain into bankruptcy by refusing to dump more money into a bottomless pit ... The seeds of change?

Regards

Stephan
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