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To: Road Walker who wrote (43017)	12/22/1997 12:13:00 AM
From: Paul Engel	Respond to of 186894

John - Re: "f you believe, on the other side, that a recession in any important market in the world," A recession is not what seems to be in the making. A full blown financial crisis seems to be in the offing. For example, some Japanese grain trading company (Yoshura ??) just went bankrupt with debts toltalling 6+ Billion dollars. Now, let's suppose a bunch of that company's borrowing were from U.S. banks or other financial institutions. That means somebody in the U.S. now has a few billion less dollars than they thought they had. That can precipitate the co;;apse of the U.S. lender! This is but one of a potential mountain of such problems that may exist internationally. My fear is that a domino effect will occur with all participants (worldwide) "falling down". I'm not making a prediction - just voicing what I see as a possibility. Paul