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To: Investor-ex! who wrote (13629)6/22/1998 2:40:00 AM
From: Ahda  Read Replies (1) | Respond to of 116753
 
Courtesy of Alex well worth the read.
Change euphoria to confusion and you have a pretty decent answer.

://talk.techstocks.com/~wsapi/investor/reply-4952271

Galbraith was in London last week. He pointed out that a key theme of the book, that
euphoria begets disaster, is as relevant now as ever. "This is a time when banks, other
financial institutions and corporations get caught up in euphoria, go beyond the law or
common sense," he said.



To: Investor-ex! who wrote (13629)6/22/1998 6:18:00 AM
From: Crimson Ghost  Read Replies (2) | Respond to of 116753
 
I'm not at all sure that reflation in Japan would weaken its currency. The key is capital flows. If a reflating Japanese economy was able to attract large amounts of capital, the yen would rise, not fall. Today inflation is dead in Japan, but the currency is very weak because capital continues to leave.