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

To: Ilaine who wrote (27949)	1/27/2003 12:38:10 AM
From: LLCF	Respond to of 74559

Well, what caused the telecom bust then in your opinion? BTW, for the rest of the thread that may not remember... an Austrian economist [or fan thereof] named Heinz Blasnik correctly predicted the telecom bust, AND it's depth... at the time I thought he was too pessimistic for an industry with such promise. :) If he is correct on the rest of the economy things will get much worse before better. So CB... since you have such strong opinions on the causation of all this... what IS you view of the economy going forward? DAK

To: Ilaine who wrote (27949)	1/27/2003 12:42:32 AM
From: elmatador	Respond to of 74559

They are paying people to borrow money, Jay! Japan rates in 'one-off' fall below zero By Mariko Sanchanta in Tokyo Published: January 24 2003 12:49 \| Last Updated: January 24 2003 12:49 Japan ventured into uncharted territory on Friday as overnight call rates fell below zero for the first time in the country's history. The overnight call rate on Y15bn of funds traded between foreign banks fell to minus 0.01 per cent. Because of the negative rate, borrowers are in effect being paid for borrowing funds because they will have to pay back less than they were lent. news.ft.com