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To: Sam who wrote (2308)12/14/1999 6:32:00 PM
From: Step1  Respond to of 3536
 
Point well taken. I should have added: "right now" or "as things stand". Of course, what you describe would require a readjustment of trade and trading blocks, which in the end may be what is really happening. Same may happen to Japan and its position in Asia. I am not saying it will, just trying to qualify my previous post in the light of your comments.

yours sincerely

Stephan



To: Sam who wrote (2308)12/14/1999 8:10:00 PM
From: Henry Volquardsen  Respond to of 3536
 
the debt does matter. I think you might be on the right track re the need to be able to 'write off' debt. But government debt is tough to write off. I suspect the eventual mechanism for writing down the debt will be domestic inflation and currency weakness. For various reasons both will be tough to pull off.


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