RE: "As far as the rest of yout what-if's... good greif, what
if we get hit by a giant meteor? The scenarios you're
pontificating would spell global economic disaster...
a technology melt-down-deluxe at the very least.
Not gonna happen anytime soon"
Lets try to put the situation into perspective.
AP currency's are all down 30 - 50% X japan down 15%
That means that Crude Oil has gone up 30 to 100% in the region.
Exports are up, but revenue is down 30-50%. Companies can not barrow money. Many Cos are bankrupt and have just stoped doing business alltogeather.
Surrounding countries are feeling the affects.
The country needs 10-20 billion this month to rollover their T-bill equivilant. They need the money because they can not sell the paper in the open market due to lack of demand.
The biggest companies in korea have huge debt problems and we still do not know the whole story. In the US, there is Hugh Optimism created from years of growth. In Korea, Kong Kong, Tiland, Phillippens, Mylasia, Japan, they are not quite as optomistic as we are. They are afraid of prolonged Depression.
Over the next 3-6 months, you see a hurcklean effort by the world to solve the problem. It is in the other 70% of the worlds intrest to fix it. In time, the realization that it Can not be fixed will surface. and the world may change.
Or it might get fixed and we all live happily ever after.
As for Global Economic Disaster, Well 30% down, 70% to go.
I am not real excited about the potential future, but At least I am willing to ponder the posibilities. And the posibilities are very real.
Jim |
