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Non-Tech : RECY Looking Good... A -- Ignore unavailable to you. Want to Upgrade?

To: James Strauss who wrote (6057)	10/23/1998 12:35:00 PM
From: stephen wall	Read Replies (1) \| Respond to of 7006

Jim, I am not so sure the Fed's stance on foreign dumping is so straight forward as they want the public to think. Japan, Ukraine, South Korea, Brazil somewhat, really have no domestic economies. Their only way to generate income is thru exports. As they trade and exchange, let's say, yen for dollars, those monies, until recently, have been plowed back into the US markets. I would look for foreign direct investments to tiptoe back into those countries before even a hint of stabilization can occur. Dont get me wrong I am hopeful, but skeptical also. I did read in New Steel that the West Coast is trying to attach an automatic 50% premium on any Asia steel imports until pricing can be verified that it is not being offered below domestic production costs. There is a wonderful book, published this summer, by Gary Shilling, called 'Deflation' which spells out alot of what has occurred over the past 15 years to get us where we are today. His predictions have been scarily accurate. stephen