Hi Elmat, <<Asian currencies are appreciating against USD ... re-gain part of what was lost during the Asian crash 1997/1998>>
It is intuitively obvious to the most casual of passing observers that:
(a) Asian values of family, education, work, savings, and meritocracy is not worse than other values of econo-political cronyism, TV, speculation, home equity loan, and sound-bite electioneering, again and once more;
(b) The officialdom must raise interest rate to reward savers with an honest return on their money, stop interfering in the capital market and cease fiddling with the banking system, so as to instill financial discipline on leveraged companies and debt-ed individuals; and
(c) Further discount rate carried and easy-money supported resistance is futile. Japan tried it, and it does not work, because it cannot work, according to all known natural laws.
BTW, I have just done this:
Message 17736386
Chugs, Jay |
