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Strategies & Market Trends : Asia Forum

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To: Esvida who wrote (376)	1/3/1998 10:05:00 PM
From: Rmn	Read Replies (2) of 9980

Al I agree with you about the value of the democratic system and and its legacy. But all this did not prevent a major depression in the 20's when gov't, corporate, and private debt was negligible in relative as well as absolute value in relation to today. The valuations of US equities are higher now than then as per PE, Book Value, what have you. In the 20's there was also a surge of global protectionism spurred on by currencu devaluations. This is now occurring. I wonder how long before the U.S. corporations and unions start bellyaching for mor tarrifs and protection from all the cheap products that will be flooding our markets from asia. Respectfully Ramsey

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