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

To: Zeev Hed who wrote (4529)	6/16/1998 11:05:00 PM
From: peter ashley	Read Replies (1) \| Respond to of 9980

Finally someone to point out with the economic dominos falling around the globe, the sole remaining superpower is NOT going to raise rates. Even at the cost of huge import imbalances, we have too great an obligation to the world. And if things look really bad, we'll bite the bullet and drop rates, even up to 1/2 point. The risk is overheating the economy, but if that is what it takes to pull Asia out of the mud, we'll do it. But I think most of this thread misses the point. Japan has plenty of liquidy, but stinky investments. All of Asia desperately needs bankruptcies and layoffs to release resources for productive investments; no bk's, nothing opens. Bad news is good news here.