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Pastimes : Preventing global economic collapse - what we can do
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To: Gary105 who wrote ()9/3/1998 10:24:00 PM
From: Rande Is  Read Replies (1) of 13
 
Let the world learn a lesson from Malaysia::

This past Tuesday, September 1, 1998, the country of Malaysia instituted drastic measures to save their economy. Last month they had prematurely devalued their currency in hopes of gaining a better global market standing for their exports. It backfired leaving them in an economic tail spin. The new measures effectively requires that new stockholders deposit their shares to be held for a period of one year. Here is a detailed description of the plan:

klse.com.my

Now let's see how well it has done since Tuesday. Well at the moment of this writing their market is up over 8 percent. Yesterday and the day before showed similar dramatic increases. Here is a 5 day chart:

quote.yahoo.com^KLSE&d=5d

Drastic times require drastic measures. In the case of Malaysia, they had already screwed themselves and had little to lose. In America, the "hands-off" policy of handling deflation is the only one that has worked historically. However, I am willing to bet that the Fed lowers the prime rate. This will certainly open the toilet seat for the big deflationary flush to begin.

If this occurs, the American economy will undergo changes that the elderly population remembers only from their youth. The world economy will feel major effects as the USD has become the world monetary standard, formerly enjoyed by gold.

Kudos to Malaysia. And prayers for us all.

Rande Is
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