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Pastimes : Ask Mohan about the Market
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To: John Hunt who wrote (10076)12/3/1997 7:46:00 PM
From: Bilow  Read Replies (1) of 18056
 
The thing that amazes me about how the IMF is treating Korea,
is that their problems seem to be identical to the ones that
aflicted the US economy in 1929, but the IMF solution seems
to be exactly the opposite of what the experts now say would
have avoided the US great depression.

That is, the IMF is insisting on higher interest rates and tighter
monetary policy, while everybody thinks now that the Fed error
in 1929 was not loosening the monetary reins fast enough.
Any comments, Sankar?

-- Carl
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