Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: John Gault who wrote (34617)	11/30/1998 12:29:00 PM
From: Hawkmoon	Read Replies (4) of 94695

Looks like the people of Venezuela may be casting the first vote against this version of capitalism. DEC 6th we'll know Well, while I'm not sure exactly what you mean by "versions" of capitalism (unless it is merely a different mix between private and public market roles), I would say that overcapacity is not necessarily due to lack of demand, but a lack of financial resouces as well as inequitable distribution of such because of cronyism/corruption. Capitalism is neither good nor bad. It is merely a system that is shaped and warped to fit the cultural nuances of each country. And the problem is that most developing countries have never had a true "rule of law", except maybe whatever the particular despot of the moment states is "his rule". Some people are advocating forgiving foreign debt over the next several years (with great cost to Western banks and taxpayers), while I figure that come 2000, debt default will be the exit strategy of choice for countries that suddenly realize they have to look out for themselves first. Regards, Ron

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