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To: dougjn who wrote (15784)9/30/1998 12:28:00 PM
From: Sawtooth  Respond to of 152472
 
<<I don't like this. I am not temperamentally a bear. Didn't turn bearish until the very beginning of August. (Although I thought all this was coming some time before that. I just thought the summer rally would last a bit longer than it did.) I'm trying to be realistic.>>

Morning news 9/30: World Bank Reports Economic Crisis In Asia Is Worsening

According to a new report issued by the World Bank this morning, the Asian financial crisis is severe and could likely get worse, threatening global economic expansion. According to the report, children in the region are dropping out of school, families are going hungry and teenage girls are being pushed into prostitution. The bank warned that the financial crisis has taken on ''systemic proportions'' in Thailand, Indonesia, South Korea and Malaysia with many banks and companies bankrupt or hovering on the brink and Indonesia remains unstable. The report was released to kick off the annual meetings of the bank and the International Monetary Fund which brings together finance ministers and central bankers from 182 nations.