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Politics : Clinton -- doomed & wagging, Japan collapses, Y2K bug, etc -- Ignore unavailable to you. Want to Upgrade?

To: Les H who wrote (172)	9/8/1998 11:30:00 PM
From: Carl R.	Read Replies (2) \| Respond to of 1151

Nixon was the one who converted me into a libertarian, actually. Regarding my "favorable" comment on him, I was only saying that excluding Watergate and the following coverup, he was no different than any other president. The nice thing about being one is that with virtually no libertarians in office, we never have to take the blame for anything. <VBG> Incidentally, I'm still pissed at Anderson for sticking himself in the middle of the 1980 race and distracting attention away from Ed Clark. In that election there was Carter, Reagan, Clark, Anderson, Barry Commoner, and the usual cast of Socialists, etc. A trivia question for you concerning that election: Carter and Reagan finished 1-2 or 2-1 in all states but one in 1980. Which of the other candidates managed a 2d place finish in a state, and in which state was it? Carl

To: Les H who wrote (172)	9/9/1998 9:14:00 AM
From: SOROS	Respond to of 1151

South China Morning Post - 09/09/98 BLOOMBERG in Kuala Lumpur Malaysia's credit rating was cut to below investment grade, or junk status, by Fitch IBCA, on concern the country's capital controls - imposed last week - could cut off investment flows into the country. Fitch IBCA downgraded Malaysia's long-term foreign currency rating two notches to ''BB'', below investment grade, from ''BBB''. The short-term foreign currency rating was also cut to junk status of ''B'' from ''F3''. ''The recent imposition of exchange controls has seriously undermined foreign investors' confidence in Malaysia and set the economy on an unsustainable policy path that could adversely affect external creditworthiness over the medium term,'' Fitch IBCA said. On September 1, Malaysia said all transfers of its currency, the ringgit, offshore will need central bank approval and introduced a measure making ringgit deposits outside the country worthless after September 30. Other moves, aimed at stemming the slump in the stock market and the decline in the value of the ringgit, included fixing an exchange rate for the ringgit and restricting the repatriation of proceeds from stock sale. Fitch IBCA's cut will make it more expensive for Malaysia and its companiesto raise funds internationally, as investors will demand more in return for taking on more risk. Some investors are also barred from investing in countries which have a credit rating below investment grade.

To: Les H who wrote (172)	9/9/1998 9:16:00 AM
From: SOROS	Respond to of 1151

Wall Street Journal - 09/09/98 Associated Press TOKYO -- Japan's chief economic agency downgraded its assessment of the economy and warned that the country stands at the brink of a dangerous deflationary spiral. Taichi Sakaiya, director-general of the Economic Planning Agency, said that while the economy hasn't fallen into a deflationary spiral in which prices sink ever lower, "We are at the entrance of one. We must take actions to prevent the economy from being sucked in." Mr. Sakaiya's remarks followed the release of his agency's latest monthly report on the economy, which used the term "very severe" to describe the current situation, stronger language than it has used in the past. It cited sluggish housing starts and rising unemployment, two key indicators of the economy. Mr. Sakaiya said the Japanese economy could enter an "extremely dangerous" phase should the economic situation outside Japan continue to worsen. But he added that Japan's hefty trade surplus and government stimulus spending will likely offset the impact of the global economy's woes. Japan entered a recession in the first quarter of this year, but until recently the government has been reluctant to acknowledge that the economy has veered off the path of recovery.