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Non-Tech : Derivatives: Darth Vader's Revenge -- Ignore unavailable to you. Want to Upgrade?

To: Thomas M. who wrote (1019)	9/7/2001 12:15:03 PM
From: Worswick	Respond to of 2794

A few little thoughts for the morning. Sept. 6, 2001 "No one fully understands what went wrong in Japan. But almost every economist in North America is sure that it won't be repeated here, whatever it is." - Bill Bonner And, "It may be that, as was the case in the 1990s, the global financial system can continue to expand and that whenever glitches occur - such as the S&L crisis, the Mexican crisis, the Asian crisis, and the LTCM debacle - the authorities can solve the problems temporarily by putting fresh paint on the cracks through easing monetary conditions and letting credit grow at an ever faster pace. But it ought to be clear that at some time in the future (maybe sooner than expected), something will go awry. Then what? The outstanding derivatives positions will then be unlikely to be settled. This outcome is, in my opinion, a certainty. At this point I am in no position to tell our readers when this calamity will occur, but given the complacency and the intellect of the central bankers, it is a question of when - and not if." - Marc Faber It simply amazes me/has amazed me.... that all the cute little chickens are still running around the barn yard. Best to you all Clark