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Pastimes : Ask Mohan about the Market

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To: Cynic 2005 who wrote (10778)	12/10/1997 8:09:00 PM
From: Mike M2	Read Replies (2) of 18056

Mohan, you touched the third rail. I will unbookmark this thread -g- I have not thought about this too much but it seems to me that bankers and speculators are the main beneficiaries of these bailouts. Look how the markets tank then rally with the talk of IMF bailouts (great chance to sell into the rally) part of the sucess of capitalism comes from failure. The Soviet Union did not allow industries to fail and look where that got them. If asia does not like western economic domination then thet can close their borders and find another place to sell their goods. I think a debate about IMF bailouts is moot point because it won't work things will get worse not matter what is done. Sometimes I wonder who is the loser in trade -the US or the rest of the world-we lose jobs with massive trade deficits but we exchange iou's for the goods. In the long run I think we all suffer. Mike

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