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Strategies & Market Trends : Asia Forum

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To: Zeev Hed who wrote (7170)	10/16/1998 4:51:00 PM
From: Cynic 2005	Read Replies (1) of 9980

Zeev, actually Japan gets half the blame. Greenspan did not learn from them. JMO. Until recently US banks can do nothing wrong. Now we are talking "insolvency" here as well. Do you call that vigilant? What about the fact that Greenspan flooded the World with $$ (hence the nickname Greenspam.) Most countries which scrambled for the $ in exchange for real goods shot themselves in the foot. The simple fact is, $ is nothing but paper. That scramble has helped Greenspan print even more. Now, can the system handle all those $$ returning home with further easy money policy? I don't know. I think the foolishness (and the Buck) stops somewhere. BTW, again, you are exactly right - half the blame goes to Japan. We needed higher rates in the US to fend of speculation in the stock market. Higher rates here and lower rates in Japan means more carry trades. In otherwords, if the rates in the US were higher, stocks wouldn't have diverted much $$ from CDs and Money Funds. At the same time if the Japanese rates were so low, we might still have had a bubble in equities - though not as big. But still a bubble.

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