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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 174.10

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9:40 AM EST

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To: engineer who wrote (20862)	1/6/1999 11:30:00 AM
From: Clarksterh	Read Replies (2) of 152472

Engineer - I was very confused this morning when they said on CNBC that the Yen had hit close to 100 per dollar. If the economy is so bad there, how can they still afford to prop up this currency this way? I know in Korea, they hit the companies pretty hard with the IMF stepping in. Isn't the IMF involved in Japan? Nothing like some good amateur (me) commentary, but the problem in Japan is not exactly the same as in Korea at al. In Korea they had two separate problems - a bubble and foreign debt denominated in foreign currency. Thus, when the bubble collapsed it was more severe than the problem in Japan since Japan had only a bubble problem. Also, Japan, as a debt free nation, has less reason to take advice from outsiders. The IMF really doesn't have any leverage with Japan since they don't have anything that the Japanese need. As for why they should be raising interest rates and thus boosting their currency in the midst of a recession, I can think of no reason why this is a good idea. Who knows what they are thinking? Clark

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