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To: Norman Klein who wrote (4132)	8/28/1998 11:45:00 PM
From: Tim McCormick	Read Replies (3) \| Respond to of 9236

Norman, these currency crisis are not the cause of the worlds problems. They are one of the symptoms of a much larger problem whose cause is decades old. Central banks have attempted to micromanage the worlds economy with fiat money policies which have unnaturally tried to eliminate the business cycle. This has fostered an environment where leverage has been used to overly develop production capacity. There is no "Asian crisis" or "Russian crisis". There is a crises of debt induced overcapacity worldwide. It just happens to show up in the weakest places first. Don't miss the forest for the trees. Debt liquidation worldwide will take years. Best wishes, Tim