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Technology Stocks : Semi-Equips - Buy when BLOOD is running in the streets!
LRCX 143.23-2.9%3:59 PM EST
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To: Mason Barge who wrote (5000)3/18/1998 9:55:00 AM
From: Robert Douglas  Read Replies (1) of 10921
 
I concur with your assessment on Korea. On Japan however, I think you are overly pessimistic. I base my judgement not on a deep understanding of Japan but rather an understanding (I'm part economist) of what took place in the United States less than 10 years ago. I am referring, of course, to the S & L and banking crisis this country went through. In magnitude it was not much different than what is unfolding in Japan. The difference is that Japan has refused to acknowledge the problem and "wipe the slate clean". The result has been that for the last 7 years Japan has virtually had a non-functioning banking system, one that is unable to supply the credit for a growing economy. The US by contrast, recognized the bad debts and recapitalized the banking industry. Look at the magnificent growth the US has had since then. If Japan finally takes this route, and it looks like it is beginning, it won't take any time at all for their economy to become the growth engine for the region that the United States has been for the world in the 90s.

Oh BTW, I was buying US bank stocks back then, that was really blood running in the streets!
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