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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Alex who wrote (15518)	8/11/1998 12:43:00 AM
From: Lalit Jain	Read Replies (2) \| Respond to of 116768

Hi Alex, Canada may indeed be bracing herself for a recession. Today's market action was certainly bearish. The financial sectors are now in a decline. The resource sector has now been in a decline for many months. There are few hi-tech stocks that might actually do well (like Nortel). Will the world soon slip into a deep recession / depression ? JAPAN: has been in an economic decline for more than a year now, and shows no sign of improving. KOREA & Thailand: are in a severe recession or even a mild depression. INDONESIA: A basket case economy. There is no hope for this unfortunate country. Suharto has his billions while many have to fight for a bowl of rice a day. Indonesia is in a severe depression. TAIWAN: is stable just because it never borrowed heavily. That goes to say 'never be too close to your banker, or he will want to own your house soon' CHINA & HONG KONG: The strong growth is slowing fast. Hong Kong markets have declined by 50% from the high (in just over a year), and the end is not yet in sight. Property prices are plunging, the Hong Kong dollar is ready to take a tumble. It is only a matter of time. MALASIA, PHILIPPINES, SINGAPORE are probably in an economic decline as their stock markets have been declining for some time now. INDIA & PAKISTAN: economic activity is expected to decline because of the sanctions imposed. AUSTRALIA & NEW ZEALAND are in a decline as they are resource based economies. HENCE ASIA / PACIFIC IS IN A RECESSION / DEPRESSION AFRICA is another basket case. There was never any economic activity. Any thing that walked was either murdered or eaten up alive. SOUTH AFRICA is in a recession, just have to look at gold and the value of the rand. MIDDLE EAST: with oil prices hovering around multi year lows, there is not much economic activity. The meagre amount of petro dollars of income is spent in buying weapons that they will never need. ANOTHER CONTINENT THAT IS IN DEEP MALAISE SOUTH AMERICA is also in a recession or soon to be. They are all resource based economies, and as deflation spreads, these countries will soon be as prosperous as Asia. EUROPE. With the exception of Germany, the European countries are not doing well. UK is already experiencing an economic decline. The only hope is the Euro and the economic union. Have to wait till 1999 - may be too late. RUSSIA and breakaway republics: have also been in a severe recession since the cold war ended, and getting worse. MEXICO & CANADA have survived until now, but recent economic data does not bode well. These two countries also rely heavily on resources. Ouch, it hurts. US: is the only country, other than Germany, that is doing very well. But for how long ? IMO, the world is on the verge of a deep recession / depression. Just my opinion. Mr. Greenspan, we need lower rates please, not higher ! I could write more, but I have to work tomorrow. Regards, Lalit Jain