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Strategies & Market Trends : Asia Forum
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To: R.Lui who wrote (38)12/22/1997 3:19:00 PM
From: DRRISK  Read Replies (1) of 9980
 
R. Lui,
I will rise to the question and try and answer what I consider to be the cause. I do not believe it to be Currency traders they are a symptom of the disease and Asia must look internally to solve the problem. The markets in Asia partcularly Japan have refused to surrender to the globalization of the world economy. For years Japan has suffered the delusion that their financial system is sound and have steadfastly adhered to a closed market mentality. The US has gently and at times harshly tried to open the doors to fair markets. The present crisis is the outgrowth of decades of protectionistic policies that have not allowed the finacial systems in Asia to catch up to their manufactuing and technology might. The US went through a similar transformation in the early 90"s to emerge stronger and more accountable. It was called the S&L Crisis that was largly precipitated by the same forces at play in Asia. Unsound Capital Investments by Gunslinging crooks that nearly bankrupted the system. The solution was a overhaul of the system. The Federal Reserve moved swiftly to lower interest rates and particularly the crucial Overnight lending rate to allow the banks to right their ships. The country held its breath with the likes of Citibank and Chase were on the verge of insolvancy. You have very similar problems and they will not be fixed without major reform of the Slimy people who use political clout to get financial favors. You must heal yourselves and weed out the Bad guys because there are plenty. Put them in Jail and throw away the Key. Good Luck, Soros is only a symptom of the problem you are full of Political Crooks and Elitist Slobs who think they can do no wrong.

DrRisk keep posting
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