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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Mike M2 who wrote (48674)	2/24/1999 2:54:00 PM
From: BGR	Read Replies (1) \| Respond to of 132070

William, My reference was to the central bank tightening in S. E. Asia after the collapse at IMF insistence. There was an excellent article by Paul Krugman in The New Republic on this issue. I think my number (25%) is not very off base. Noam Chomsky recently marvelled at this issue after a trip back from India. Middle-to-upper middle class Indians can afford to buy condos and cars w/o taking loans (loans for these purposes are a pretty recent phenomenon in India), send kids to private schools, never worry about higher education and have maids and servants on a routine basis. Speaks very poorly of a country where 40% or so live below the poverty level, but I digress. But, let's take your number (2.5%) and average with mine, which is 125 MM for India alone. Even that is not too shabby, given that the corressponding US number is around 150-175 MM. -BGR.