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

To: Paul Berliner who wrote (5956)	8/27/1998 2:14:00 PM
From: Michael Sphar	Read Replies (2) \| Respond to of 9980

How do you view the current debt of Korean semiconductor firms ? From some report I read recently: Hyundai owed $8.4B on 6/30 or 930% of equity, LG Semicon owed $3.0B or 500% of equity. Samsung owed $6.0B on 12/31/97 no indication of percent of equity, but note won/dollar worsening could have increased this debt significantly over six months. Is this manageable ?

To: Paul Berliner who wrote (5956)	8/28/1998 8:45:00 AM
From: Worswick	Read Replies (2) \| Respond to of 9980

Ref. yours..."If only the Japanese MoF had the balls......." to do the necessary in admitting their fiscal problems. Do you think the Fed here would admit that the US insurance companies with all their policies and policy holders were actually broke? At that... that all the US pension funds and the US banks,were running on the levels of giant Ponzi schemes? Can you think of anything that anyone in Japan gains by admitting that they are broke? I can't. You have world wide deflation now at work here. All debts must now be repaid by he people who borrowed the money, or the people who lent the money. The world will now be divided into two groups of people: those who have cash. and those who want to sell assets for cash and find few, if any buyers. Don't buy your Mercedes now....wait a few months.