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To: Jimbo who wrote (9900)	2/17/2001 3:04:47 PM
From: mike thomas	Respond to of 14638

The Greenspan recession is well joined, one only has to read the business news. Trouble is old Allen, having caused this debacle, won't admit we're in a depression and won't do a damn thing to get us out of it. The politicians have got to get their thumbs out of their asses too and pass a retroactive tax cut. If they don't, we are in for a long couple of years. regards

To: Jimbo who wrote (9900)	2/17/2001 5:06:14 PM
From: Ira Vine	Respond to of 14638

This reminds me of 1998 when Alcan (another Canadian company) missed earnings because of weakness in Asia. Everyone just put it off as excuse-making, but it turned out to be an early warning sign of the huge Asian crisis which followed. If you want a ghoulish indicator, go to the Forbes site and look at their "Body Count" of layoffs which they update daily; it's moving toward 200,000 for the first six weeks of this year. I'm just hoping that stocks come back, as they have after every other recession.

To: Jimbo who wrote (9900)	2/18/2001 8:46:23 PM
From: Liatris Spicata	Respond to of 14638

Jimbo- <<Would be interested in knowing how our economy differs from Japan's in the late 80s. >> Have you heard of the banking crisis in Japan? The US had a smaller version with its S&L crisis of the 80's, but we faced up to it. Japan has not, and I think it's banks are still carrying around a lot of bad debt. Japanese companies still are overstaffed, but are reluctant to embrace the hard-nosed capitalist answer to such a situation. Finally, North America is fortuitously positioned as the leader in industries with enormous growth potential. Japanese companies in the 80's were far too complacent with their leadership in consumer products. But for the lack of leadership, Sony, Fujitsu, Toshiba or various other Jap firms could have led the networking revolution. They are still playing catch-up (just don't ever count 'em out). These are just some of the salient differences. To try to draw an equivalence between the US today and Japan of a dozen years ago strikes me as quite shallow. Larry