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

To: Dayuhan who wrote (7346)	10/30/1998 9:13:00 AM
From: Worswick	Read Replies (2) \| Respond to of 9980

Steven I note today in the Wall Street Jounal the second largest bank in Germany had a loss of $2.1 billion dollars... on positions that no one knew they had. This is a huge hit in a country that is drifting towards the socialist policies of say France.... I would like to note there is a sort of rise amongst the world's finacially saavy.... to limit the growth of money and control it's velocity around the world. As you point out is this the effect or the cause? What Erdman was saying, I believe, is that the era of feckless money creation is ending. We have financed this world bubble to stave off our own domestic problems here...eg.the financial collapse of 1980/82. We have had a rising stock market that has not exactly made martyrs out of money managers ever since. A rising market has hid a multitude of sins. I think you can do two things in the next few months: (A) keep your eyes on how much countries really owe short term and long term as these numbers spill out as they have been from China: (B) watch how much the banks are being forced to write down. You will probably note the banks ae loosing more money than they admit to... and that the countries owe much more money than heretofore they admit to. Hope you are well and thriving, Clark