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Strategies & Market Trends : Currencies and the Global Capital Markets

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To: Frodo Baxter who wrote (871)	10/10/1998 12:14:00 AM
From: N	Read Replies (1) of 3536

Interesting, Lawrence, that you find this monetary growth the right course. Thank you for your comments. Earlier in the year, before this all became such a hot issue for the chattering classes (not my phrase, wish it were!) Norton Walker of Deutsch Bank research before Japan Society in nyc said what you are saying...that increasing consumer demand in a society with an aging population that needs to save is an absurd idea that he felt none of the policy types really were taking seriously, that the call to boost domestic demand was a murmur directed more towards US domestic political consumption. Felt that since top priority for the globe was to prevent a blow up in Japanese banking industry, there was no way out of a strategy that would have Japan to continue gdp growth through exports. Lose export revenues, gdp, lose banks, world goes kaboom. I remember being impressed by his argument and very sober demeanor! And now look how handy his argument is!![##@%] Have also heard US top folks do take seriously a plea for Japan to boost demand. Well, maybe Krugman is a trendy version of KM...much like the new art edition of the Manifesto? By the way, your Amazon production possibility teaching image is terrific! Ha! Gotta remember that one! And to associate monetisation with rock and roll...well you are hot tonight!! Keep on keeping on... Nancy

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