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Technology Stocks : Cymer (CYMI)

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To: Cymeed who wrote (11748)	12/20/1997 1:58:00 AM
From: Elroy Jetson	Read Replies (1) of 25960

Regarding Japan Inc's forecast of 2.4% GNP growth as opposed to last years 0.9%...... These people are on drugs. They have consistently over-estimated their annual GNP since 1991. I will be shocked if their GNP does not decline during 1998 by at least 2%. Their banks became insolvent when ours did in the late 1980's. The US set up the RTC and closed many banks. The Japanese claimed there was no problem. They gradually lowered their interest rates to less than 1% and encouraged their banks to lend this "free money" out in "profitable" loans to Thailand, Korea, Indosenia and Malaysia. The problem is now, needless to say, many magnitudes order worse. Even now Japan refuses to take the hard steps necessary to get their economy going. In spite of their non-existant interest rates, the monetray policy of Herbert Hoover Hashimoto has seen money supply in Japan declining, primarily due to decreasing monetary velocity. Alan Greenspan has wisely flooded the US markets with liquidity. If he had followed the same actions as Japan this would be 1929 rather than a significant correction. Only Greenspan's policies stand between us and oblivion. Let's pray for their continued success.

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