Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Box-By-The-Riviera™ who wrote (6151)	7/21/2001 2:31:35 AM
From: TobagoJack	Read Replies (1) of 74559

Hi Joel, Disgusting? We lack imagination on what truly 'disgusting' is. I just received a 40-page tome from that smartie Goldman Sachs on the subject of Japanese banks. The bank to the world (Japan, not GS) is not well. The report opens thus "A bottom-up analysis of all listed companies using much stricter hurdle rates suggests that total non-performing loans are Yen 237 trillion versus the reported Yen 150 trillion [EDIT: this is the good news; now the bad] but bankruptcy risk loans could be Yen 170 trillion versus the reported Yen 23.9 trillion [EDIT: in case you are still groggy from nap, this last bit was the bad news ;0)]". And I thought Argentina's US$ 140 billion total external debt was bad. I lack imagination. Wealth is burning. Sit tight and watch it burn for a while longer. The last time I checked, gold does not burn. Chugs, Jay

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