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Politics : Ask Michael Burke

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To: cardcounter who wrote (31013)	8/12/1998 4:41:00 PM
From: cardcounter	Read Replies (2) of 132070

What a lousy day to bet on Russia...tomorrow's no brighter either. The russian currency controls are going to be bad for the broad markets (latin america already got smacked). Russian nationals are going to run to the banks/atms/etc to yank money out of the system before the currency limitation goes into effect tomorrow (assuming they can). Unless europe (maybe asia--a Jap forex intervention would be nice) can provide a buffer to the emerging market spillover, I think we'll be giving today's gains back hand over fist. Any thoughts? Can we decouple our market from this mess? In an unrelated note: my head hurts and my tummy don't feel so good.

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