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To: goldsnow who wrote (18726)	9/13/1998 2:36:00 PM
From: Bobby Yellin	Respond to of 116759

I think too much(ray Hughes mentioned paralysis by analysis)..the republicans might want to Gore in to kill his chances for next election..especially if they see us heading for a recession :-) recession could lower dollar(foreign selling etc) and cause gold to rise? also saw that unions make up less than 16 % of labor force..forget about wage inflation ..yes/no? ..this post just shows how clever everybody is(again was it a bet that governments wouldn't let Russia etc meltdown ..also wondering if this is one of first releases ushering meltdown in NYC real estate? --deflationary and could cause further deflation because of psychology Merrill Lynch to cut 300 jobs - paper LONDON, Sept 13 (Reuters) - U.S. investment bank Merrill Lynch & Co. Inc. will begin making job cuts this week after posting big losses in emerging markets trading, the Sunday Business newspaper reported. The paper said Merrill will cut up to 300 jobs, with its capital markets division likely to be hardest hit. It quoted unnamed sources in New York as saying Merrill's fixed income division could also suffer job cuts. A global hiring freeze had also been put in place, the report said. Merrill Lynch could not be reached for immediate comment on Sunday. Earlier in the week, the investment bank said it lost an estimated $135 million net from its emerging markets in July and August. As a result, Merrill earned an estimated $102 million net profit in the period, which was less than a fifth of the $545 million the company made during the second quarter, below Wall Street expectations. uk.equities.news@reuters.com))

To: goldsnow who wrote (18726)	9/13/1998 3:13:00 PM
From: Terry Rose	Read Replies (4) \| Respond to of 116759

goldsnow, I agree that Gore is a bad alternative but sticking with Clinton is worse. Orin Hatch's comments are a mystery except for the way the political game is played. I have read somewhere that Clinton has something over Hatch so I would take his comments with a grain of salt. Also I heard that Clinton had a meeting this week with the Democratic congress power base in which contrition was discussed. Also discussed was some files that Clinton had on various congressional types. To further muddy the water I read last year that Kenneth Starr did legal work for China Resolution Trust or whatever it's called which is the Chinese government's front for acquiring private U.S. assets ie. Long Beach naval yard. So Starr may not have looked into prior Clinton activity as independently as I would have liked. One of Starr's prosecutors quit during the Vincent Foster's death investigation when he protested that certain avenues were not pursued. Unless sales of missile technology to China or illegal foreign money campaign contributions are really investigated nothing changes. Clinton will stay in office and Gore looses his bid for the presidency. Since the president is a probable puppet to the Foreign Relations Committee does it really matter who gets elected? Terry,

To: goldsnow who wrote (18726)	9/13/1998 4:11:00 PM
From: Bobby Yellin	Read Replies (2) \| Respond to of 116759

china(with its great civil liberties and India)? France unworried by dollar dip, urges Japan to act By Brian Love PARIS, Sept 13 (Reuters) - French Finance Minister Dominique Strauss-Kahn said on Sunday the dollar's recent slide was far from a disaster for France, but the outlook for U.S. economic growth was far more important than current emerging markets crises in themselves. He said he thought U.S. growth remained relatively untouched by the financial turmoil that had spread from southeast Asia. In a wide-ranging interview, he also reiterated calls for Japan to revive its economy as well as for an overhaul of an outdated global monetary system. ''Even if the dollar has fallen a bit...it's still above the average level of 1997, and well above where it was at the start of 1997, when the dollar stood at five francs,'' he said. The dollar at times passed six francs in value during 1997, making French exports more competitive at a time when exports were the main engine of economic growth, but recent weakness amid the resurgent emerging markets crisis and President Bill Clinton's troubles has knocked the dollar to 5.70 francs. ''Yes, it has slipped a little, but it's not catastrophic -- indeed far from it,'' Strauss-Kahn told Europe 1 radio. ''But we also can see that it (dollar level) is not unrelated to U.S. internal developments. You're right to say our attention must be fixed on the United States,'' he said. Strauss-Kahn said the advent of the single European currency next January had provided the 11 participating countries with a protective buffer from financial turmoil in other parts of the world, which had not been the case in past times of crisis. But he said the financial and economic turmoil tormenting southeast Asian countries for over a year required effective action from Japan to revive the world's second largest economy. The economic troubles of Asian countries like South Korea, Thailand and Indonesia had knocked an estimated 0.5 percentage point off French growth in 1998 and would take a similar toll in 1999. Official French forecasts of 3.1 percent growth this year and 2.7 percent growth in 1999 take account of this. Strauss-Kahn said the crisis which erupted in Russia in August was of another kind, as was the follow-on crisis of confidence in Latin America, where Brazil was now suffering despite being a ''well-run economy,'' Strauss-Kahn said. Strauss-Kahn said the West was ready to keep helping Russia financially if Moscow reformed. Things seemed to be sorting themselves out politically with the naming of a prime minister. ''But this is only a first step. They need to take action -- reorganise the Russian economy. There's no economy without a state, without taxes being raised to pay for public services and the normal functioning of the country,'' he said. Strauss-Kahn, who said he conferred with British counterpart Gordon Brown on the eve of Russia talks among Group of Seven officials in London, appealed to Tokyo to play a more effective role in sorting out the crisis that has spread beyond Asia. Senior foreign and finance ministry officials meet in London on Monday to discuss Russia's woes since the country's political and economic meltdown in August triggered wider market turmoil. On Japan, Strauss-Kahn said that eight months of successive economic revival plans appeared to have done little to change things and that Japan needed to do something concrete. ''The crisis (in southeast Asia) is rooted in the Japanese situation, where we can see all too clearly there has been no sign of things improving,'' he said. ''It's all dead calm in Japan. Economic growth is very weak and the financial system needs restructuring, but nothing happens -- it's a case of one step forwards one step back,'' he said. ''We'll get involved as we already have in the past at the G7 (Group of Seven) level,'' he said. ''Our involvement has to be followed up with action,'' he said, specifying that he was speaking of Japan responding to pressure from G7 partners. Strauss-Kahn said market turmoil from Asia to Latin America added poignancy to France's long-time calls for a major overhaul of the world monetary system which was founded with the Bretton Woods agreements after World War II and is now inappropriate. ''What we have today are rules which are no longer adapted to the context,'' he said. ''The International Monetary Fund plays its part, it has been heavily criticised, probably too harshly. But beyond IMF's role what we need today is a new Bretton Woods, an new organisation of the world monetary system,'' he said. China and India should be involved in this reform, he added.