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To: JD who wrote (5338)	1/6/1998 10:37:00 PM
From: PaulM	Respond to of 116753

J,D, disagree on one score: positive earnings suprises. No way, no how. EOM

To: JD who wrote (5338)	1/6/1998 10:54:00 PM
From: PaulM	Respond to of 116753

S Korea broke a record yesterday as more than 150 companies went bankrupt. This shattered the previous mark of 134. This amid "improved investor confidence." Meanwhile, the rest of the Asian tiger currencies, including those enjoying well spent IMF money, are losing value at about a rate of 3-5% a day. Meanwhile, Japanese bonds surged with the yield touching 1.5% amid fears of deflation. Meanwhile, there's talk about the Japanese increasing the money supply by 1% a day. Which if true would wipe out the bond return in--oh--about one and half days. (Well, not necessarily, but you get the idea). Meanwhile, gold, a market with a 1000 ton or higher mined supply to demand deficit, is down on the fear that S Korea and the rest of Asia may scam another 10 tons of gold from the citizenry. .....Well, I guess if markets weren't inefficient, there wouldn't be any way to make money in them. Good Night