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

To: Cynic 2005 who wrote (10778)	12/10/1997 7:12:00 PM
From: robnhood	Respond to of 18056

Mohan,,,not exactly clear on what you are saying , but I notice that the earnings shortfall prelims are being blamed on the asian mess...It's easier than saying "we screwed up",,, On another note, an article I read in our paper today pointed to the fact that only months before the asian crisis, the IMF , was lauding them for their great growth/ low inflation economies.... russell

To: Cynic 2005 who wrote (10778)	12/10/1997 7:13:00 PM
From: Bearded One	Respond to of 18056

What did we say about the Japanese when GM and Ford were suffering due to their low quality energy inefficient cars? Whom do we blame for the cocaine trade? Columbia and Mexico or our own usage and all the Americans involved in distribution? Yes, there will be a backlash. BTW, I followed Mahthir's statements quite closely as I am Jewish and thus, in the minds of many, connected with international financial conspiracies. I was very pleased that Soros publically blasted Mahthir as incompetent in front of the world.

To: Cynic 2005 who wrote (10778)	12/10/1997 7:43:00 PM
From: Bonnie Bear	Read Replies (1) \| Respond to of 18056

Mohan: I think the multinational banks, and others, have already made asians into scapegoats. It will come back to haunt the multinational banks for many years. The notion of value in a stock equity, the notion of a bank debt, and the concept of stockholder rights are pecular to the West. We try to force our standards on the rest of the world but not our legal system, and then become dismayed at the results. If Asia wanted to set up trading pacts with each other and shut out the U.S. we will be in a world of hurt. Asia is not unified, I have asked chinese MBA students about trade with India and got a glassy stare, it's not even considered worthy of discussion. (very strange) Perhaps the result of this mess will be an improvement in the way asian countries trade with each other.

To: Cynic 2005 who wrote (10778)	12/10/1997 8:00:00 PM
From: Don S.Boller	Read Replies (2) \| Respond to of 18056

Mohan: You pose interesting thoughts - which others (Bonnie and Bearded One) have commented on. I agree with them. Throughout recorded history - it seem as though - "we" always have to have a dog to kick...."redskin savages", jews, blacks or whomever. Not just americans but others as well. Eg., is there not still a class system in India??? There definitely is a sub-rosa class system here - in areas. What I guess I'm trying to say is that cultural differences may be used a scapegoats by any society. Unfortunately. Hopefully, education and communi- cations will improve all our relations to come. Enjoy your posts. Don

To: Cynic 2005 who wrote (10778)	12/10/1997 8:03:00 PM
From: Simon	Read Replies (4) \| Respond to of 18056

<<< will Asians be made scapegoats out of the mess?>>>> People and politicians will do everything possible to avoid accepting responsibility for what they created.

To: Cynic 2005 who wrote (10778)	12/10/1997 8:09:00 PM
From: Mike M2	Read Replies (2) \| Respond to of 18056

Mohan, you touched the third rail. I will unbookmark this thread -g- I have not thought about this too much but it seems to me that bankers and speculators are the main beneficiaries of these bailouts. Look how the markets tank then rally with the talk of IMF bailouts (great chance to sell into the rally) part of the sucess of capitalism comes from failure. The Soviet Union did not allow industries to fail and look where that got them. If asia does not like western economic domination then thet can close their borders and find another place to sell their goods. I think a debate about IMF bailouts is moot point because it won't work things will get worse not matter what is done. Sometimes I wonder who is the loser in trade -the US or the rest of the world-we lose jobs with massive trade deficits but we exchange iou's for the goods. In the long run I think we all suffer. Mike

To: Cynic 2005 who wrote (10778)	12/10/1997 8:10:00 PM
From: robnhood	Read Replies (2) \| Respond to of 18056

Mohan,,I know one thing,,I have some alternate fm stations I listen to,,,One just came on with Indian music ,,,I confess ,,I had to change it to my other fm station,,,but to be fair ,,, when they come with oriental music , I do the same thing,,,I try , but ,,<ggg> russell

To: Cynic 2005 who wrote (10778)	12/10/1997 8:11:00 PM
From: Brad Bolen	Read Replies (1) \| Respond to of 18056

Mohan, As the husband of an Asian, I would be particularly sensitive to any of the scapegoating you mention. However, from my limited view, I have not seen this effect yet. But you bring me to ponder... Have you seen some specific cases which bring you to this observation that you could share? My tendency is not to look for trouble, else I may find it. But if it there, I would want to know. Thanks for a great post....again. B.

To: Cynic 2005 who wrote (10778)	12/10/1997 8:48:00 PM
From: robnhood	Respond to of 18056

Mohan,,,It's human to err,,It's even more human to blame someone else. sign at work russell

To: Cynic 2005 who wrote (10778)	12/10/1997 9:07:00 PM
From: Joseph G.	Read Replies (1) \| Respond to of 18056

Mohan, <<Without America's contribution, the world would still be in the later stages of middle ages>> A humble correction - Europe was out of the latter stages of Middle ages 400 to 500 years (in different parts of Europe) by 1776. You may recall the later date as several years prior to when US of A was established. Joe

To: Cynic 2005 who wrote (10778)	12/10/1997 10:10:00 PM
From: HH	Read Replies (1) \| Respond to of 18056

Mohan, I read with interest your post re: cultural and economic convergences and in particular was struck by your question relating to motives. The great thinker Adam Smith wrote one the most provocative statements that surely can be applied on a global basis. "It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner... but from their regard to their self-interest. We address ourselves, not to their humanity, but to their self-love, and never talk to them of our necessities, but of their advantages." ADAM SMITH HH

To: Cynic 2005 who wrote (10778)	12/11/1997 12:40:00 AM
From: George Acton	Read Replies (1) \| Respond to of 18056

Mohan: short term, I don't think you have anything to worry about as a person from part of Asia, and certainly not the subcontinent. There could be a movement for protectionist legislation against cheap imports, as there was in the Depression, but no one will remember that the first problems surfaced in Thailand or Hong Kong. Politicians like Buchanan who have appealed to nativism will get more hearing concerning immigration, but I doubt it would go much beyond that. --George Acton

To: Cynic 2005 who wrote (10778)	12/11/1997 12:50:00 AM
From: Bilow	Respond to of 18056

No offense taken, Mohan, believe me, it is an honor to have you around here! As far as defending the US, I would like to note that peoples the world over are full of p:&& and vinegar when they are on top. Americans are no exception. When the Japanese were on top, they felt the rest of us defective, (may still), and I am sure that in the glory days of India the same feelings were felt. You would not have believed the depth of despair in this country back in the Carter years (not that Carter actually caused them). And US values are going to end up in India no matter what else happens. I believe that a fundamental fact of human life is that if a man (woman) is not faced with effort to obtain his means of living, he (she) usually becomes bored and causes trouble. As the rest of the world catches up in real wealth they will eventually drift to the American example. (May take a century or two.) -- Carl

To: Cynic 2005 who wrote (10778)	12/11/1997 1:06:00 AM
From: Elllk	Respond to of 18056

<<What bugged me then and now is that very few really questionned the corrupt politicians and inept bureacrats who created the mess.>> Yes Mohan, and once again the pure as snow, noble politicians have found the real source of the problem! Thursday December 11, 12:34 am Eastern Time S.Korea to clamp down on bourse rumour mills (See Yahoo news) Larry