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Strategies & Market Trends : Asia Forum -- Ignore unavailable to you. Want to Upgrade?

To: Worswick who wrote (2933)	4/6/1998 6:38:00 PM
From: Tommaso	Read Replies (1) \| Respond to of 9980

I saw Paul Fussell on the History chanel the other day. He was an infantry officer in WW II --a lieutenant in combat against the Germans at about age 21. He said the Germans were about as tenacious as the Japanese. He said that German and Japanese morale was higher than that of Americans because they were part of a positive effort to build something (however evil we may see it) and because they had sworn personal loyalty to a single leader. He said the American mission was to destroy something and that the loyalty was mainly to comrades in arms and to family back home. So there was not this suicidal commitment, this total willingness to die. I wonder if we can apply any of this to economics. I tend to doubnt it. It does look as if the Japanese place a high premium on discipline and self-sufficiency, both personal and national. I can't help hoping that no glad-handing bankers persuade Japanese to put any of their personal savings into the United States Stock market. It would push the market to even greater overvaluation and ultimately to an even greater catastrophe.