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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: John Hunt who wrote (25771)	1/10/1999 6:27:00 AM
From: John Hunt	Read Replies (1) \| Respond to of 116759

The confidence game (Brazil) friedberg.com << The best-case scenario, then, is that Brazil is able to lower interest rates without suffering undue foreign exchange losses. Using smoke and mirrors, Brazil pretends to enter into a virtuous cycle of lower interest rates, falling deficits, even lower interest rates, and finally, fiscal balance. That is not to be. Choked by astronomic interest rates -- it is reported that consumers pay 175% per annum to buy appliances -- a rate in line with the 12.4% per month charged by MasterCard users -- economic activity has taken a sharp dive. Real GDP in the third quarter shrank by an annualized 6% compared with the previous quarter, while unemployment has already climbed to 7.6% at the start of the contraction, a much higher rate than at the start of every other recessionary cycle in the past 20 years. >> Consumer loan rates and credit card rates that those would bring tears of joy to any banker's eyes. :-))