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Technology Stocks : Cymer (CYMI) -- Ignore unavailable to you. Want to Upgrade?

To: Cymeed who wrote (11840)	12/23/1997 1:30:00 PM
From: Elroy Jetson	Read Replies (4) \| Respond to of 25960

The Japanese stock market has lost 11% over the past 3 trading days. As Japanese banks count their stock holdings as capital, and they are the largest shareholders in Japan, this means even less money to lend and more failures. As the WSJ pointed out this morning, this happened in spite of the announcement by the Ministry of Finance that they will inject $80 Billion into the Japanese banking system to maintain lending. The problem is MUCH larger. Once again too little too late. Third Quarter growth in the US was 3.1% down from 4.1% in the first quarter. Subtract our 1.8% inflation rate and our economy is growing at only 1.3%. Retail sales will dissapoint in a big way, especially on the high end where customers are feeling poorer due to the recent poor performance in the stock market. Yet while the US is the strong economy in the world right now growing at only 1.8%, Japan continues to project 1998 growth of 2% with zero inflation. What drugs are they on? The Nikkei - how low will it go? President of Korea Kim Dae Junge claims Korea will be bankrupt today or tommorrow without more IMF payments. Korean debt just downgraded to Junk Bond status. This is all collapsing faster than I thought it would. The time to buy stocks may come sooner than six months from now.