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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: Mike M2 who wrote (10536)12/8/1997 9:52:00 PM
From: Defrocked  Read Replies (2) | Respond to of 18056
 
Interesting markets tonight. Wonder which one is
using public money for support?

Mon Dec 8 9:52PM Eastern U.S. Time
Australia -.2%
So.Korea -4.2%
Malaysia -4.5%
Taiwan -.2%
Hong Kong -1.8%
Japan +3.2%

Don't worry. Buy stocks.Things will work out. Trust
what you see in the Japanese market. It's fair and
honest. Really. Buy some more. It won't go down.
It won't be permitted to go below 16,000
or 15,000 or 14,000 ever, ever, ever!
<sick g>



To: Mike M2 who wrote (10536)12/8/1997 11:48:00 PM
From: George Acton  Respond to of 18056
 
| The trouble with government economic policy is they like
| Keynesianism when comes to spending money but they forget that he
| advocated surpluses during the boom times to pay down the debt
| incurred during recession.

Exactly. And now SEA and Japan are getting all the classic features
that Keynes talked about -- too much saving, not enough investment,
reduced consumption, nobody wanting to borrow from bankers who are
afraid to lend. We're importing it into part of our economy, and
if it spreads we can't use the obvious Keynsian medicine because
of decades of piling up obligations. Maybe the only way a
democracy will avoid deficits is with a bunch of right-wing
ideologues. Pragmatic liberals just can't say no. We should
have had stingy Republicans running fiscal policy for the last
30 years. Then we could afford the Democrats when we need them.
--George Acton



To: Mike M2 who wrote (10536)12/9/1997 10:42:00 PM
From: Mike M2  Read Replies (3) | Respond to of 18056
 
William, I don't recall where I saw this but it was probably in a bear interview in Barron's . This is from memory but as I recall the total debt in the US -both public and private is 220% of GDP in 1929 that figure was 190% of GDP . Keep in mind that the unfunded future liabilities like social security make the present debt much higher. Mike


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