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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 76.04

-0.3%

Nov 26 3:59 PM EST

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To: craig crawford who wrote (11249)	12/30/1997 11:48:00 PM
From: sepku	Read Replies (1) of 77400

>>>The IMF bails out Mexico because they are a bunch of scam artists, and now they go help out Korea. Obviouisly countries are getting the impression that they can act irresponsibly because the IMF will be there to bail them out.<<< The Mexican bailout was executed timely and well -- and ultimately successful. I wouldn't generalize the countries as acting irresponsibly because of the perception of an IMF "safety net" -- that implies intentional abuse of the IMF, taking advantage of them and conducting themselves recklessly. Since the entire economic "food chain" of any one nation consists of 1000's of independent entities vying for leadership in their respective fields, the net result of their activities is the Asian contagion...not some collective agreement to take advantage of the IMF. I believe it comes down to one thing: all these nations have had far less experience in the global market, compared to the US, for example. Thanks to learning the hard way, we can trust the Fed to have the benefit of the 1929 crash and 30's Depression, 70's mid-east oil crisis and recession, etc., to avoid any such situations in the future. That's why I don't believe we will EVER see a depression again, short of WW3 or judgment day... ;o) The Asian nations were hot in the 80s...now their excesses are catching up with them. Japan has been treading water for as long as its market was roaring in the 80s. Banks over-extending all across SE Asia...similar to the 1920's for the US. Too bad booming economic eras can make a country drunk with success, and dulled to the realization that it is moving too far to one extreme which is dangerous. Style Pts.

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