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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Joe Sabatini who wrote (22308)	7/31/1998 2:20:00 AM
From: George Bielski	Respond to of 70976

start worrying when it closes above 150 to the dollar. At that point most of the loans made by the Japanese will no longer be profitable or even repayable. Japan's banks will start merging as a razzle-dazzle effort to smoke up the crystal ball. Since the've been dancing around this issue for 6+ years, I expect they are in a lot worse shape than anyone can imagine. IMHO, I expect a world-wide recession this time next year. Today, the Japanese announced they will stop selling dollars and buying yen in hopes of cheapening exports and making imports more expensive, keeping business at home and hopefully export themselves out of recession. WRONG!