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

To: Ramsey Su who wrote (7464)	11/10/1998 10:37:00 PM
From: Frodo Baxter	Respond to of 9980

>Further more, you are assuming that deflation will continue, even with all the money they are injecting into the system. You're not looking hard enough. Broad money measures are nominally growing at 3 or 4 percent. >Let us assume your assumption of deflation is correct, what would you rather have "tomorrow"? One USD or 122 yen? You phrased this question incorrectly. If US interest rates are 5% and Japan is -1%, and today $1=Y100, then in one year, $1.05=Y99. Notice how there's no free lunch.