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Strategies & Market Trends : Currencies and the Global Capital Markets

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To: Henry Volquardsen who wrote (491)	8/28/1998 1:17:00 PM
From: Bill Ounce	Read Replies (1) of 3536

What's my source? >>>What is your source for that info? Many luxury items are imports and unlikely to have come down in price considering the currency collapse.<<< Imports of luxury goods drop to zero because of a flood of used luxury goods swamps the market. Highly leveraged (formerly) wealthy people dump their luxury goods to pay their margin calls. At the same time currency collapse causes imported food and fuel skyrocket pushing up the prices of even locally grown produce. So luxury goods and realestate deflates while base consumer goods hyperflate. My source is that I've recently visited and keep in touch with people from that region. But, you don't have to take my word on it :-) this sort of info is regularly published online in the South China Morning Post (http://www.scmp.com/news/asia/topasia.idc)

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