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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host
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To: Kirk © who wrote (5623)6/28/1998 6:26:00 PM
From: Alan Whirlwind  Read Replies (1) of 42834
 
Landing party to Kirk,

Two interesting articles from the Associated Press about Asian woes appeared on the back page of the Sunday Wausau Daily Herald business section.

The first is entitled, "Asian Crisis shows no signs of letting up after one year" depicts a situation there that continues to deteriorate with a turn around unlikely in the next three years. It points out one effect being that the US trade deficit hit a record $14.5 billion in April. Other points:

There is a looming danger that a potential collapse of the Hong Kong dollar could cause renewed turmoil in other currency markets of the region.

Thefts, robberies and fraud are on the rise in usually quiet respites, such as Singapore.

In South Korea men in business suits are said to leave home for jobs they no longer have, too embarrassed to break the news to their families. Suicides are up 36% there. 25 a day.

Many Asians blame the IMF for imposing draconian measures that have led to soaring interest rates and the bancruptcy of companies that had up to that point able to tread water.

A second article, "Bad banks prevent Japan from helping neighbors" reflects on Asian fears that Japanese lending capital will soon dry up altogether. It points out how the tanking of the Japanese real estate markets in the early '90's has led to a mountain of bad debt few realize the extent of: 426 billion in bad loans in 1992 becoming $550 billion worth today, a staggering total nearly equaling the size of the Canadian economy.
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