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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Crimson Ghost who wrote (27405)8/9/1998 10:58:00 AM
From: Richard D  Read Replies (1) of 95453
 
George,

From my post #26447:

<<There is a theory by economist David Hale that the U.S. will maintain a bubble economy as long as the Asia crisis exists (to help them and us pull through and avoid depression.) This means stimulative monetary policy. This means increased Western oil consumption apart from weather concerns. This stimulative policy will have to be used in Asia as well. This has not hit the news yet, but it is logically inevitable. Perhaps such news will begin the new swing in sentiment.>>

This use of increased liquidity is what I have been saying for a while (vs. the current austerity programs in Asia.) The IMF has recently allowed larger deficit spending in S. Korea for example. This should help jump-start the economies and lead eventually to oil consumption growth again.

Richard
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