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Strategies & Market Trends : Telebras (TBH) & Brazil -- Ignore unavailable to you. Want to Upgrade?

To: DMaA who wrote (12052)	1/20/1999 12:26:00 PM
From: Steve Fancy	Respond to of 22640

Hope they buy TNE, UBB, TSP and CPQ. sf

To: DMaA who wrote (12052)	1/20/1999 12:27:00 PM
From: Steve Fancy	Respond to of 22640

Brazil interest rates hike fails to staunch dollar hemorrhage RIO DE JANEIRO, Jan 20 (AFP) - The outflow of dollars leaving Brazil has not been stemmed by Monday's hike in interest rates, according to Central Bank figures released Wednesday. Some 347 million dollars left Brazil Tuesday, according to Bank figures, despite Monday's decision to float the real and widen the band of interest rates to 25-41 percent from 29-36 percent. Some six billion dollars have left the country since early January. Once the Bank let the real float, the importance of increasing the interest rate became holding back inflation, said Camila de Faria Lima, a top economist with Banco Santander in Sao Paulo on Wednesday.. Fernando Bezerra, president of the National Industries Confederation (CNI), considers the interest hike a transitory "necessary evil." "Let's not fool ourselves, the rates are not going to go down in the short term," Bezerra said. The real, after some initial fluctuation Tuesday, settled at 1.50 to 1.55 to the dollar -- close to its range Monday -- after having lost some 20 percent of its value over the past week. The interest rate hike indicates that the government is shifting its focus from defending the real, a policy that can eat up valuable economic reserves. bl/ch/rl

To: DMaA who wrote (12052)	1/20/1999 12:31:00 PM
From: steve kammerer	Read Replies (1) \| Respond to of 22640

That would still give too much power in the hands of the gov. Who chooses stocks. Who chooses brokerage funds. How would campaign contributions from individual companies and brokerage firms affect both of these. Sorry, but I have small confidence in the ability of the government to handle these kinds of problems. In the name of helping kids get a college education, the last tax act gave tax breaks to kids going to college. The net effect has been shown that college tuitions imediately went up by the tax credit plus normal tuition increase added to it. Effectively this didn't help anyone except college employees but made everyone think they were helping people go to college. stevek