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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: flatsville who wrote (68898)	2/17/2001 10:11:50 AM
From: Box-By-The-Riviera™	Respond to of 436258

Poor Ted Roosevelt Big Stick and Soft Walk replaced by foam bat and hush puppies...... Got strange version of free markets? now, where did i put those tarrifs? U.S. Did Not Lecture Japan At the meeting in Palermo, the United States stressed the importance of the stability of the Japanese financial system for growth but did not express any special concern about deflation in that country, the Japanese official said. ``The U.S. told Japan that stability in the financial system was important for growth, but it was a general exchange of views and they didn't tell Japan what to do,'' the official said. Hayami explained monetary policy steps taken by Japan last week, the official said, adding that O'Neill and Greenspan did not tell Japan what to do with its economy. Last week the Bank of Japan cut its official discount rate to 0.35 percent from 0.5 percent, responding to pressures that it had not done enough to support Japan's fragile economic recovery. Japanese consumer prices fell in both 1999 and 2000 -- the first back-to-back fall on record -- while prices of real estate and equities are still deflating after an asset-price bubble burst in the early 1990s. That began a decade of slow growth that is still putting strains on banks and indebted companies. Asked whether the United States had expressed any concerns over deflation in Japan, the official said: ``There was no special concern expressed at the meeting.'' Japan's gross domestic product shrank 0.6 percent between July and September, and another straight quarter of contraction would meet the technical definition of a recession. The G7 is comprised of Britain, Canada, France, Germany, Italy, Japan and the United States.