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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Wyätt Gwyön who wrote (3890)	12/26/2003 1:25:10 AM
From: mishedlo	Read Replies (1) \| Respond to of 110194

Merry day after Christmas Darfot, Joan, Russ, Tippet, Fillmore and everyone else. M

To: Wyätt Gwyön who wrote (3890)	12/26/2003 1:56:21 AM
From: Joan Osland Graffius	Respond to of 110194

Darfot, >>Japan's problem is that they have, since the 1970s, built up productive capacity vastly exceeding domestic needs. notice that this is far in advance of their 1980s bubble. I Have not studied Japan to understand the economic cause and effect relationships. Japan during the years you discussed should have been building productive capacity exceeding their domestic needs as they were building products that were competitive in the world market place. IMO, we would not have the electronics available today if the Japanese had not entered these markets and produced them at a price affordable to the middle classes in the world. American management during the last 30 years has done absolutely nothing to bring affordable products to market. Sugar, look at the US steel industry. The management did not invest in new technology to compete in the world market place. They just ran in place until bankruptcy was inevitable. Our auto industry is on the same track as the steel industry was during the 70’s and early 80’s. I believe at the moment Japan has the problem of having an important world currency called the Yen. They are providing the capital equipment to China supporting their expansion and need to compete in world markets to stay competitive in that market. We have seen South East Asia including Japan thinking of stabilizing their currency exchange rates by forming a South East Asia "bank" of sorts, which would help Japan.