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Strategies & Market Trends : Asia Forum

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To: Stitch who wrote (3791)	5/21/1998 11:47:00 AM
From: Worswick	Read Replies (1) of 9980

Stitch and all of you... deflation! This is what is happening in Asia, ref. your article on Steinberg's ideas, "...there has to be progress in the efforts to clean up the balance sheets of banks in the region. As long as they are crippled, there will be little money to lend. So far, the signs are not good. "GDP is contracting much more sharply than debt is being reduced, so the core regional problem of indebtedness and non-performing loans is worsening, not improving." On the subject of comprable values to give one a basis of deflationary values.... Go back to the real estate crash in the US of 89-90-91. It took three years to work out. I remember that Doral built a $150 million hotel in Telluride, Colo. At the end of the "bust" you could probably have bought it for $25 million. A little over 16% of it's all in cost to build. This is prime real estate in one of the greatest locations on arth. My best,

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