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Strategies & Market Trends : Asia Forum -- Ignore unavailable to you. Want to Upgrade?

To: Joseph Beltran who wrote (6999)	10/7/1998 2:58:00 PM
From: Bosco	Respond to of 9980

G'day all - dear Joseph, I don't know if there is a worldwide recession either; however, hintsight being 20/20 [probably 100/5 in my case <VBG>,] maybe most pundits have missed the tie that binds. The increasing globalisation of the world [economy] also brings about the extreme domino effect. In a way, it is indeed ironic this has come about amid the sea change of technological advancements; In a different way, it may be b/c of the laggard of intercultural reconciliation behind technologies causing such a major hiccup. Or, being a car buff, I imagine this super duper hi tech car was being forced to run on the 18th Century road surface. best, Bosco

To: Joseph Beltran who wrote (6999)	10/7/1998 4:24:00 PM
From: Tommaso	Respond to of 9980

Clinton called it a "glitch in the road." Sounds like something one either would not want to run over or step in. These "Asian problems" are going to provide a very convenient excuse for the Federal Reserve having allowed the equity bubble to develop. Improvements in technology and productivity were among the causes of the Great Depression. Then, as now, declines in commodity prices and then a surfeit of manufactured goods led to falling prices, which (this time not yet) led to a round of layoffs, further falling prices, etc. I think that the US government will be much quicker than Japan has been to expand the money supply and spend money to prevent a very deep recession, unless the Republican Congress is determined to repeat even more of the mistakes of the 1930s. There are plenty of useful things for the government to spend money on. The Depression was in some respects a great boon for artists, with commissions to decorate public buildings with murals. There's a lot that could be done to clean up the rattier parts of America, using a deliberately inflated currency to pay for the projects. But we will see what happens. Meantime, some of us hope to protect our real capital.