Formerly About Applied Materials Message Board

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Politics : Formerly About Applied Materials

AMAT 329.49

-2.2%

11:08 AM EST

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To: stockycd who wrote (20485)	6/17/1998 2:06:00 PM
From: Jacob Snyder	Read Replies (3) of 70976

re: " Japan and the US will succeed in propping the Yen this time": No they won't. As long as the Japanese economy is getting smaller, the U.S. economy is getting bigger, rates of return on Japanese bonds and equities are near-zero or worse, rates of return on U.S. bonds are far higher than in Japan, then capital will continue to flow out of Japan to the U.S. As long as these conditions persist, there isn't enough cash in all the world's central banks to stop the yen's slide for more than a few weeks. The Japanese tried a little while ago, threw 20 billion $ at it, and the money disappeared with no visible effect.

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