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Strategies & Market Trends : John Pitera's Market Laboratory
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To: John Pitera who wrote (3414)3/8/2001 3:30:22 PM
From: Yorikke  Read Replies (1) of 33421
 
John, in this case the Japanese may now just be facing the problem. Like the Titanic they have long ago run up on the ice burg and are finally admitting that the watertight bulkheads are not working. My feeling is that that a bottom will not be in place until they actually do something besides respond with scripted formula solutions. This is Debt Saturation at textbook levels. The private sector is operating under a severe debt burden, and now government is admitting the same. My feeling is that a bottom is likely only after the purging of systems of the non existent asset valuations that prop up enterprises. That has not really occurred yet. But it appears to be more likely now.

This is nasty business. The full ramifications of a further Japanese retreat are mind boggling.
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