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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Rolla Coasta who wrote (1689)	1/6/2001 7:21:16 PM
From: TobagoJack	Read Replies (1) \| Respond to of 74559

Hi QPK, I think being absolute exhibits conviction, leaves no room for error, and sets up for the great fall from greater heights. Such conviction has a place in the market place, for the good of the market place. The fabled softlanding is just that, soft for now, just as a great fall from the 21st floor would be, until the moment of sharp and slightly stinging impact. The Japanese central bank, its government and the people ruled by the government had almost all the liquid money in the world and that was precisely the problem. The Japanese trade surplus was and still is real, and that was how the big liquidity bubble transferred itself to Japan in the first place. As far as financial market comparisons, the similarities are, well, quite similar, except for the P/E (a function of accounting system and extent of the bubble). The Japanese certainly wants to save the Japanese economy from the outside world, and yet, even with their astronomical savings, they have yet to succeed ... the means are theirs to use, the will is lacking. Who would want to save the US economy from its slide downward. Maybe all would, but who could? As to what the richest US capitalists are doing, I think that will be answered in coming Congressional hearings. At least 200 of them left the US shores virtually before the Senate passed laws in the early 1990s to tax their US holdings on capital gain basis at the time of virtual departure even if they do not sell in reality. The liquid assets of the richest are definitely floating away from the shores of California and New York, even if shore parties are constantly sent from the mother ship to do some pillaging along side the barbarians. I do not have much to say about the Euro as it is artificially created by fiat amongst a bunch of disparate countries locked in a cage. Everytime we open the cage, the same little beast jumps out at the world. I have just taken a the first of maybe four positions in Ayala Land B (largest real estate play traded at 5.4 pesos now) shares in the Philippines as I believe the Peso is cheap, the country is awful, the bombs are exploding, the place is nice, and the president is not. Money has no concience most of the time and no nationality all the time. Chugs