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QCOM 163.81+0.3%10:06 AM EST
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To: JMD who wrote (14447)9/2/1998 8:37:00 AM
From: Ramsey Su  Read Replies (1) of 152472
 
Mike,

I find it inconceivable that the Japanese power brokers are not fully aware of the magnitude of the bad debt problem by now. You said, "that these guys couldn't make a decision if their life depended on it."

Quite to the contrary, I think they have decided to sit on the information and work out some behind the scene solution. It is very obvious that they do not have a workable gameplan on the table. A lot of unpopular decisions have to be made. One way or another, the probably is very high that these actions will result in higher deficits, historically high unemployment rates, yen devaluation and a new round of "sacrifices" by the Japanese people.

The more I read about Japan, the more I believe that the worst thing they can do is succumb to western pressures and do something fast and irrational. They need to lay out a multi year multi dimension plan. The people are ready for bad news. What they need is a vision of the road back to prosperity, after taking the hit now.

Chicken little is looking for Japan to really tank, because that will mark the bottom.

Now to the main subject, golf. The last time I played, that damn windmill hit me on the head. I don't think I will be playing again anytime soon.

Ramsey
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