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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: John Hunt who wrote (15474)	4/20/1998 8:20:00 AM
From: Zeev Hed	Respond to of 18056

John, your post indicates that the drama is more or less evolving as i thought it would. The problem Japan has now is that their cultural "face saving" attitude will prevent them from taking drastic action at once (for instance, eliminate the sales tax they have imposed last year, eliminate it today, not in a month, not gradually, just get it out of the system). Before they can act, these "slight deflationary" signs will become a deluge which coupled with the asset deflation environment in which they are already stuck could bring a severe recession. Zeev