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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Sam Citron who wrote (24329)	10/29/1997 9:53:00 AM
From: Thomas M.	Read Replies (1) \| Respond to of 132070

Was she referring to events in Asia? I thought she meant U.S. Tom

To: Sam Citron who wrote (24329)	10/29/1997 11:26:00 AM
From: Sam Citron	Respond to of 132070

Thread, Anyone catch Peter Lynch on Charlie Rose last night? Other panelists were supposed to include Jim Cramer, Cramer, Berkowitz & Co./ www.thestreet.com/ Henry Kaufman, Pres, Henry Kaufman & Co./ Donald Marron, Chairman, PaineWebber. Did I miss anything? SC

To: Sam Citron who wrote (24329)	10/29/1997 11:51:00 AM
From: Mike M2	Read Replies (1) \| Respond to of 132070

Sam , I'll jump in here with my 2 cents. Abbey Cohen's remarks are bull propaganda. About 30% of US exports go to that region . Yes the lions share of these exports are to Japan and China but they will be hurt because they do a lot business there. In addition, the Japanese will get burned on a lot of loans to SE Asia. A considerable amount of wealth has disappeared in that region this will curtail both consumption and investment in this region. I have no doubt that things will get worse in this region and it will have an adverse effect on our economy. One other major point is SE asia and Japan are major holders of our debt and without their continued buying our bond mkt loses some major support. yes bonds have rallied so far the so called flight to quality but I question the sustainablity of this rally due to our heavy reliance on this region to fund our debt. Wait until they decide to sell.I think Tekgk had posted on the Kahunna thread that since June foreigners have been net sellers of our debt. SE Asia also has big problems with excess capacity. For further reading on this matter check out the url given by tekgk under the Ask Mohan thread post # 6504 it goes into much more detail and I find the arguments to be quite compelling. Mike

To: Sam Citron who wrote (24329)	10/29/1997 1:36:00 PM
From: Knighty Tin	Respond to of 132070

SC, Totally disagree with Abby, as usual. Just at the message is the medium, the market, at these bubble price levels, is the economy. If the market fails in the US, the buyback and options scam fails, and that is the only source of eps growth for many major companies. Just check IBM's last eps report. The bulls, including Abby, have been citing Asian growth as a reason for our stocks being overvalued for years, now. But, as the Asian growth declines and even turns negative in some cases, all of sudden it doesn't matter. Were they lying then or are they lying now? The answer to that question is yes. -g- MB