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Pastimes : The Naked Truth - Big Kahuna a Myth -- Ignore unavailable to you. Want to Upgrade?

To: MythMan who wrote (55246)	8/6/1999 10:28:00 AM
From: re3	Read Replies (1) \| Respond to of 86076

will it ever matter ?

To: MythMan who wrote (55246)	8/6/1999 10:48:00 AM
From: Cynic 2005	Read Replies (4) \| Respond to of 86076

At the height of Asian economic crisis (Jan 1998) Indian economy was still growing at a healthy clip. It is a different story now - overbuilt commercial and residential realestate venture are attracting fewer and fewer buyers. Extreme levels of bad debts in the private sector are making lenders very cautious to lend money even to the most trust worthy (no rating mechanism for most businesses). Basic industry is showing negative comparisons with prior year levels. Infrastructure spending is up mainly on road investments (with borrowed money). The new "rich" are into speculative ventures - investment in real-estate, stocks etc. The picture I see calls for a major "adjustment." Back here in the US, are we close to my favorite D-day? The day on which the mantra will be - "Sell! Sell!! Sell!!!" to which we say: "to whom?" I think we are close.