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To: JBL who wrote (22448)	10/22/1998 12:09:00 AM
From: Mike M	Read Replies (3) \| Respond to of 164687

JBL. I say again....you are too pessimistic...The things you have pointed out are not a secret. Perhaps they will find nasty surprises but more likely what will be important is the perception that real structural changes are being made which will in due time pull them out of this malaise... From a market perspective, the 1929-33 bear market in our own country ended when the banks were forced to take a holiday by then Prez Roosevelt ....That did not signal the end to the economic malaise, but set in motion the structural changes necessary to repair the problem (and begin a whole new set of problems, but that is another story)....His was not a mission of solving all problems immediately but of restoration of confidence....That will likely be the solution in Japan as well.... Your understanding of the economic problems in Asia is exceptional, but confidence and liquidity will determine the Japanese and global outcome and the fat lady isn't warming up yet.... Lighten up....you might be right...but, you could be wrong...and I sure hope you are! :o) Mike