Tulipomania Blowoff Contest: Why and When will it end? Message Board

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Non-Tech : Tulipomania Blowoff Contest: Why and When will it end?

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To: Moominoid who wrote (396)	12/31/1998 10:53:00 AM
From: Hiram Walker	Read Replies (1) of 3543

David, the problem is severe deflation. European prices on things like bottled water are sometimes 300% different. Manufactured goods have dramatic differences. We were already one nation at that time,the EURO is being born. Also there is significant political risk entailed in France and Germany with their new socialist governments. Will they try to increase debt to fund social programs? What will happen when there are significant problems in one nation? I believe there is going to be a huge problem in the first 2-3 years in the ECU,testing the will of the nations to join. A severe recession will test the mettle of the governments with socialist leaders. Remember when there is one currency, you cannot deflate it for any one nation due to economic problems. Hiram

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