Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: elmatador who wrote (40139)	10/25/2003 6:24:56 AM
From: Haim R. Branisteanu	Read Replies (2) of 74559

you can not play a game alone - you have partners and in this case China, Japan SE Asia and Europe. The US is suffering from an ill conceived policy of the Clinton administration which tried to cover up the budget , trade deficit and inflation by starting the "strong dollar" policy. It worked for the Clinton administration and now we are faced with the results of this policy. The 1998 Russian and Asian crisis only inflicted more damage on the US but with a delayed effect. The inflow of capital fleeing those countries added fuel to the US bubble which is unwinding for the last 3 to 4 years. This administration was ill prepared to handle this crisis and does not have the talent to overcome the economic and political challenges. The root of the problem started after 1995 not 3 years ago. Any one blaming the Bush administration for the present problems is short sighted even that Bush administration economic policies are also ill conceived and only added to the present problems. In a way the US is the victim of it's own success - starting with technological advances from PC/Servers/internet/telecom which enabled substantial productivity and the farming out of many technology and service jobs. Japan contributed "the just in time" inventory and the mixture made corporation more profitable on the expense of more work places. Advances in logistics and transportation added their own drag on jobs in the US and Europe. Same tasks are done at a fraction of their cost in Asian countries at a time that their contribution to the world prosperity is very low Would summarize that the capitalistic system reverted to global socialism due to the technological advances. ....would say that free trade can fall victim to, to mcuh free trade. Stability in financial markets are the key to global prosperity and to much freedom there is only hurting world economies.

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