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To: Eric who wrote (16643)	9/1/1998 8:35:00 AM
From: Lynn	Read Replies (1) \| Respond to of 77400

>What I'm really worrying about near and long term is Japan. So am I, Eric. The end of last week I had the TV on while at my PC when a political commentary program came on (whatever PBS channel I was tuned to--I'm not home). One of the fellows started on how everyone is concerned about the crisis in Russia whereas the real danger is the economic situation in Japan. Japan was referred to as the 'locomotive' for all of Asia. He said 15,000 has long been perceived as the danger point for the NEKE (spelling?) average and that day, it closed a few points beneath this. Japanese banks are the major troublesome area but the economic forecast for other areas of the Japanese economy do not look very good for the new few quarters. The Japanese banks, which compose 14% of the NEKE average, are being faced with having to sell assets [I do not remember exactly what kind]. The international committee/board composed to deal with banking reform is at a stand still. So, Eric, the political upheaval in Russia, which is flashy, gets the media attention whereas the real danger, the economic situation in Japan, gets underplayed. Its sort of like putting a person in a room with a few spitting cobra and a bit of the Ebola virus. The cobra appear to be the immediate virus whereas its those particles of the virus that are far more dangerous. Lynn