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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 159.61

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To: DaveMG who wrote (14960)	9/13/1998 5:33:00 PM
From: Jon Koplik	Read Replies (1) of 152472

Dave - regarding ... I thought one of the interesting things mentioned in one of Ramseys links which were posted last night was how long it was expected to take for these interest rate reductions to have an impact in the Japanese economy. In the US I'm sure a cut would cause a knee jerk rally ... If I told you of a country with an inflation rate of, say 18%, and short-term and long-term interest rates of around 20% or so, and then told you that the central bank in that country raised their "discount" rate (or whatever) from 20% to 21% and were surprised when not much changed with respect to borrowing habits, levels of new investment, speculation in financial markets, etc., then you'd probably say -- they need more than a 1% upwards change to "do something." Similarly (back to the "real" world), I find it very hard to believe that anyone thought a change from 0.50% to 0.25% (on short-term rates) in Japan would "do something." Jon.

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