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Strategies & Market Trends : Asia Forum
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To: Rmn who wrote (382)1/3/1998 10:38:00 PM
From: Zeev Hed  Read Replies (1) of 9980
 
Ramsey, in his speech today, Greenspan voiced concern about the possible impact of assets rapid declining values, but I think that the real cause for depressions is not assets values falling but drastic decline in final demand. Western societies have created a safety net which assures, in a way that demand will not decline too rapidly. I voiced my concern earlier that the less developed rim countries do not have at this time such a security net, thus real collapse in domestic demand could become endemic. Right now, I am still hoping for Japan to show its leadership and cut taxes drastically to prime their economy and soak some of the excess capacity in the rim. If they do not, I think we will have problems in the near future.

Zeev
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