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Strategies & Market Trends : Asia Forum
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To: Joseph Beltran who wrote (5747)8/21/1998 2:22:00 PM
From: Robert Douglas  Read Replies (2) of 9980
 
Joseph, you wrote:

I think Greenspan has to concede now that the threat of a recession is much larger than the threat of inflation.

I doubt seriously that Mr. Greenspan is conceding that at all - especially in light of two economic releases this week showing housing starts at a 10-year high and the 4-week average of jobless claims as low as it has been in a year.

We are in a deflationary spiral here and the only cure that I'm aware of is to print and print more money.

I see little evidence of deflation here (United States) let alone a "deflationary spiral" What evidence do you see of such a spiral? I do however see mounting evidence of brewing inflation in such things as wages, housing and health care. Have you seen that HMOs are getting their first price increases in years from employers, some of which are in the 5% to 10% range?

The IMF should immediately relax the deficit constraints in s.k. and get money into circulation. even more important for japan to do so.

Here I agree. It's time for Keynesian stimulus in Asia. It isn't however in Mr. Greenspan's job description to provide liquidity for foreign nations. I think if the choice presents itself between inflationary pressures at home and a crisis in Asia, Greenspan will hold the tough line and fight inflation at home. I know that IS in his job description.

-Robert
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