Stitch,
wao! Your latest report from KL sounds pretty bad! I don't know about the U.S: media, but over here in Europe, they are in a big denial and not-noticing at all. Bad enough for the spoiled holidays, but the water problems... Do you have demonstration and riots already? Signs of getting there?
BTW is the one chap (money manager) with insight into Indonesia still here. I'm afraid I have forgotten his name. Wonder how things look over there.
I think the slow freight-train analogy for the credit crunch is a good one: Stock markets move in days and seconds, but debt and loans stick to one's balance sheet for a long time. Witness Japan! They are busy with it probably for some 7 or 8 years and no signs of being over. In fact, as noted here before, likely getting worse because of high exposure to SEA countries and companies.
So, Stich, in a nutshell, all things considered, have things gotten rather worse than better in Malaysia in the last 4 months or so?
Thanks a lot,
Thomas |
