The Great Max Mosley out of Canada
For Private Use Only
(C)
May 10, 1998
The world is sticking so close to the script that it is frightening. Japan is in a deflationary contraction and sliding further downhill towards a Depression. The Asian markets that crashed last year bounced up and are now falling back towards their previous lows - looking like perfect text-book "Suckers' Rallies" to me. And the United States Bubble is expanding just as have all previous historical financial bubbles, in denial, greed and unreason, towards its inevitable but not necessarily imminent collapse. This has all been covered before in The Skeptical Investor, and commenting further this month would be redundant.
Instead, I am taking the opportunity to devote this month's Issue to something that, compared with the above, is a side issue but is going to become increasingly important to the international investor: European monetary union and the euro. The euro may become an international reserve currency to rival the US dollar . . . or it may collapse in chaos. Something to keep a close watch on. It is too early to come to any conclusions, but here are my considered thoughts.
Further to his ideas on the Euro Thomas and others.
chebucto.ns.ca
Meanwhile, on the South China Morning Post thre are some gruelling stories coming out of Indonesia.
My best to you, |
