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To: Link Lady who wrote (16432)	9/18/1998 6:12:00 AM
From: John Hunt	Read Replies (5) of 18056

Contrarian - Market drops as option expiration nears stocksite.com << Japan's bank debt downgraded ... S&P downgraded Japanese bank debt. I have said before that one reason the Japanese haven't addressed their problems, was because they were too big too handle. Now it looks like some of the rating agencies are starting to figure that out. The Japanese bad-debt problem appears to be approximately $1.8 trillion, or 30 percent of GDP. To put that in perspective, it is about ten times our S&L problem of the early '90s. Our S&L predicament was about 3 percent of GDP at the time, and Mexico's problems were about 6 percent of its GDP. I think this is one of the main reasons why the Japanese haven't faced the music. >> $1.8 trillion ... time for saki

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