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Non-Tech : Tulipomania Blowoff Contest: Why and When will it end? -- Ignore unavailable to you. Want to Upgrade?

To: Kailash who wrote (752)	1/19/1999 8:49:00 PM
From: Eric Klein	Read Replies (1) \| Respond to of 3543

The only reason that I can think of for the markets to respond favorably to the float (de facto devaluation) is that people were expecting something even worse. Although, what could have been worse except possibly a military coup? Any ideas? I wonder how far the real can fall before they try to intervene to support it. It isn't falling as fast as the ruble did, but 10% per day is pretty severe. How can this not trigger massive problems for their economy? Might people totally lose faith in the currency?