Dwight,
I could only agree with your post. We can't hide our heads under the snow and hope that the disaster in Asia will be averted. Those of us who live in the developed world will end to be the victims!
Last night latest massive bankrucpcy in Japan shook the European finnancial cirles today. This is just the beginning of large seris of bankrucpies we have to expect.
Sumutomu Steel, Sonny, and Mitubishi are not too far from it eithr, as per today's internal letter circulated by the Swiss Bank Corp. (I think SBC is the second largest bank in the world, and they are very conservative, that is to say they don't cry wolf needlesly!!) I will not be suprised if IMF and US have to run to Jpanese help sooner or later! Mr. Hashimoto, only two weeks ago, was bragging that Japanese problem is different from the Koreans and that Japan is a crditor nation!!!!
Well, I think either they have to take quick action and offer more
tangible tax cuts and change the way Japan Inc. makes buisness or we may indeed see and pay for a Japanes melt down! |
