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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Horgad who wrote (61544)1/25/2001 12:04:55 PM
From: Box-By-The-Riviera™  Read Replies (1) of 436258
 
hmmm wonder what his US colleague would say

``The only way you can be optimistic about Japan is to turn the charts upside down,'' said Kenneth Courtis, vice-chairman for Goldman Sachs in Asia. ``That
country has spent a decade digging itself into a hole.''

With debt levels at five times gross national product, real interest rates of three to five percent for 10-year money despite zero interest rates, and the government
running out of funds to maintain fiscal stimulus, the yen looked set to depreciate steadily for the coming two years, Courtis said.
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