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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: John Hunt who wrote (16462)	9/20/1998 6:32:00 AM
From: John Hunt	Read Replies (1) \| Respond to of 18056

Global Meltdown - Do we need to be "rescued from Capitalism"? pei-intl.com << There is little doubt that the global economy is experiencing at the very least a short-term meltdown. George Soros' comments yesterday calling for more intervention and bailouts because emerging market investors need to be "rescued from capitalism" are comments that quite frankly send chills down one's spine. After all, one does not need to step back too far in time to see how such thought processes led to communism when the same arguments claimed that capitalism was evil and prone to booms and busts. The problem is obvious: no one complains about excessive booms that are compressed into a short span of time with 30%-50% profits, but they immediately cry foul at the first loss of a dime. The problem we now face is preventing a true economic disaster if more people begin to think the unthinkable as Mr. Soros has just revealed. >>