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Strategies & Market Trends : HONG KONG

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To: Tom who wrote (2369)	10/2/1998 1:30:00 PM
From: Beiming Wang	Read Replies (1) of 2951

Greenspan conceded that it was necessary to rescue the hedge fund via the FED channel, which was in contrast to his earlier disapproval to the Hongkong government involvement in the stock market there. It is sad that even the almighty Greenspan would change his story once the real problems hit America. Tom, the real danger today is that we have a classic overcapacity worldwide. It is time for government to use the deficit spending to pump up the aggregate demand. Politically, I see the whole Europe from England to Germany, from France to Spain, and from China to Japan, now might be in a year or two, the US government will be forced into another worldwide "NEW DEAL" scheme, in order to truly solve the problems. We certainly will not allow another war type of solution as an old style exit for the aggregate demand to come back. Unfortunately, people in the USA are still in deep discussion of the president scandal rather than the up coming real danger threatening the future of America. My two cents. Beiming Wang

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