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Strategies & Market Trends : Waiting for the big Kahuna
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To: Haim R. Branisteanu who wrote (32843)11/2/1998 12:43:00 AM
From: Skeet Shipman  Read Replies (3) of 94695
 
Hi Haim,
I for one applaud the actions taken by the FED for its leadership and interest rate reductions, the LTCM bankers for assuming the risk, Congress for IMF funding and restraint on fiscal budget changes, the president and Ruben for coordinating actions, the Japanize for cautiously moving to support their banking system, and the G7 counties for their coordinated action. These have done much toward stabilizing global financial markets. While many people on this thread have bet on the big Kahuna, I hope few of us really want it. Rereading the history and consequences of the last global depression enlightens all involved.
Skeet

Note: I am not saying the above actions have removed the threat of a global recession. They do provide a safety net to prevent it from spiraling into a global depression. There will be further significant destabilizing events and factors for which this safety net will be necessary.


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