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

To: Dayuhan who wrote (7217)	10/20/1998 4:54:00 AM
From: Step1	Respond to of 9980

"The world is now experiencing the most serious financial crisis, in many respects, of the last 50 years,'' Mr. Rubin said in a speech Saturday at Yale Law School" ---- and what a crisis it is with the DOW up 500 odd points in the last week alone... I can't wait to see what the hardship will be like... No seriously, isnt anybody listening to Mr Rubin? Like I have posted once on the Japan thread and perhaps on this one as well, a good Japanese business friend of mine told me not long ago: " What is value? We don't know what the value of anything is or should be right now" He then pointed out to the fact that so many people kept getting back in the market as the Nikkei was reaching "horrific", "historic lows" (28,000/ 16,000 / 14,000 ) only to get hurt as every rally was a suckers' rally... So my question, no answer needed or perhaps possible at this point, is : What is value? Why is the DOW still at 8000+? Yours Sincerely, Stephan Gilbert

To: Dayuhan who wrote (7217)	10/20/1998 2:19:00 PM
From: Jay Scott	Read Replies (1) \| Respond to of 9980

TXG (Asia 100 Index) back on a sell signal this morning. Maybe the hangover from the Japanese bank reform party is starting to set in. Steve, great post. What this market needs is more rocket science from the likes of Bob Rubin. I noticed that he failed to mention any culpability on the part of the Fed in keeping the dollar way too high. Gee, that couldn't have caused any problems, what with all those debts being pegged to the U.S. dollar. Our markets rode high with the dollar, and Clinton and Co. try to take credit for it. Now that the downside of deflationary policies is finally being realized at home, suddenly it is the fault of the "legal/banking systems" in those countries. Give me a collective break. The destructive policies and mind numbing incompetence of this administration have given "politics" an even more cynical bent than normal. Not an easy task, but one that we should certainly append to that long list of "accomplishments" of this administration. Oh, I forgot, what were the other ones.... JS