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To: Frederick Smart who wrote (20232)2/23/1998 11:58:00 AM
From: Paul Fiondella  Read Replies (2) | Respond to of 42771
 
Shallow thinking

"I think what is going on in Asia is incredibly bullish long term for the entire world economy."

So you would have thought what went on in 1929 was incredibly bullish long term for the entire world economy?

When a currency halves, do you know what happens to the value of assets? And if those assets are leveraged by debt do you have any idea what happens to productive capacity? IT SHUTS DOWN AND IT RUSTS. Do you think this "creative" destruction of capital is good for capital accumulation? Or do you also think that money grows on trees?

"Digital communications is breaking down political barriers...governments are on the decline because of exploding bandwidth..."

The only thing exploding here is your mind. Are you on drugs? You actually believe this bullshit. In Indonesia people live on $0.30 a day, drink polluted water and scramble to find work in order to survive. There are troops in the street to prevent food riots. Both Clinton and the Japanese are trying to extend emergency food aid because factories are shutting down. I invite you to take a vacation to East Timor if you think power doesn't grow out of the barrel of a gun and governments are disappearing! Try reasoning with an AK-47 after someone finds a defect in your identification papers. Or maybe you should be Chinese instead of an American during one of those food riots and watch your business be torched to the ground.

May I suggest on your next visit to the bandwidth universe you take along all of the necessities. You won't know how pathetic the techie brand of consumerism is until you are stuck in (you name the country) with a serious illness and no doctor, no medicine, and no hospital.

PS If you take the "trip", leave the bandwidth behind---there is no electricity.

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When you find some vulture funds (presuming you even know what they are) let me know, along with all of the other things you are too busy to let me know about.