Roger's 1998 Short Picks Message Board

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Strategies & Market Trends : Roger's 1998 Short Picks

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To: Roger A. Babb who wrote (14134)	9/27/1998 8:56:00 PM
From: Patrick J. Saunders	Read Replies (1) of 18691

I disagree. I think the US financial folks have been warning Japan to take hard measures and to clean up their banking sector for over 10 years. They will need to take this hard knock to ensure their banking "process" changes. The US cannot afford to bail out the Japanese economy without risking increased taxes here, and the usual economic constriction that follows... I think the Japanese have over 3 Trillion in bad debts. Their club house arrangements and the creative financing allows for huge losses to be concealed, year after year. The birds have finnally come home to roost... I think more bad news will be forth coming before this year is over. Namely: (1) more bank failures in Japan & Russia (2) Continued currency devaluations (ie. China) (3) Overall weak consumer and commodity prices. These combinations may contribute to volatile market conditions. (IMHO) Keep those shorts on... :) October trading should be wild.. Good luck to all...Pat

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