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To: Terry Whitman who wrote (12542)	12/7/1998 1:45:00 PM
From: Real Man	Respond to of 86076

Soft insanity today. Will be half of the Nasdaq soon. cnnfn.com

To: Terry Whitman who wrote (12542)	12/7/1998 1:58:00 PM
From: MythMan	Respond to of 86076

Read this and buy Buy BUY!!!!!! commentary on last week.. These guys don't get it either. >>It was a tumultuous week for global financial markets. In Asia, economic data confirming the region's perilous near-depressionary state contributed to regional stock weakness, including a 7% decline for Hong Kong and 3% in Japan. Reports also support the growing consensus that Europe is entering recession and despite a surprising concerted interest rate reduction by eleven European central banks, stocks were hit hard. Losses of between 5% and 6% suffered in England, France, Germany, Spain, Italy, Amsterdam, and Sweden. In Russia, an historic financial and economic meltdown gains momentum with the rouble now in virtual freefall having dropped 18% since November 1st and 67% since August. Importantly, however, the most ominous signs of an escalating global crisis are much closer to home. Not surprisingly, Brazilian politicians are reluctant to subscribe to the austerity measures recommended by the IMF. Many are simply unwilling to raise taxes and impose hardship on the country's vulnerable economy for the sake of supporting what is certainly an overvalued currency. With interest rates high, commodity prices in collapse and economies slowing rapidly, the entire Latin American region is now in serious trouble. Increasingly, the situation with the IMF bailout for Brazil looks to have potential to deteriorate to something similar to Russia earlier this year where bailout funds simply financed capital flight providing no help to the real economy whatsoever. And with the additional dilemma to many of the region's economies due to the collapse in the price of oil, nervous investors are fleeing all of Latin America. For the week, stocks in Brazil dropped 16%, Argentina 13%, Mexico 6%, Chile 8% and Venezuela 5%. For all of 1998, losses mount with Brazil down 25%, Argentina 34%, Mexico 28%, Chile 26% and Venezuela 55%. <<