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Strategies & Market Trends : Asia Forum
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To: Joseph Beltran who wrote (5747)8/21/1998 2:24:00 PM
From: Mike McFarland  Read Replies (1) of 9980
 
We are in a deflationary spiral here and the only cure
that I'm aware of is to print and print more money. That
goes for the u.s. as well as all of asia.

I was not aware that money was tight here in the US--has
lending in the US become too restrictive? Are corporations
having trouble getting access to funds? Not at all. And
neither is money tight for the consumer, or at least you
would not know money was tight from the deals that are
available on mortgage and auto loans. Although I suppose
personal credit card interest rates are quite high, but
with many Americans tapped out on their cards you probably
wouldn't want to stimulate borrowing in that area by getting
those rates down (certainly, the banks have not exactly been
rushing to lower their card rates, even as the long bond rate
sinks to 5.4% today). No, I think there is quite enough money
sloshing about here in the US. Let the Asians buy their own
products for a change, we have sopped up enough of their cheap
exports through now.

As far as Asia, doesn't look like the Japanese consumer will
be able to buy Asia out of it's depression either. This is
quite a fix...looking forward to the next issues of the Economist.
(except I'm such a cheap bastard I share a subscription, and
they're always a week or two old when I get them).
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