File spoon-archives/marxism-international.archive/marxism-international_1997/marxism-international.9710, message 484


Date: Fri, 24 Oct 1997 14:17:23 -0700 (PDT)
From: Dennis R Redmond <dredmond-AT-gladstone.uoregon.edu>
Subject: M-I: Re: Global Financial Crisis


On Thu, 23 Oct 1997, Louis N Proyect wrote:

> So this time I'm keeping my money in the Pacific Fund.

Say it ain't so, Lou! Actually, if the mini-bubbles keep bursting, it
would be a great time to buy Asian equities. Not in Thailand or Malaysia,
mind you, but in the East Asian core, especially Japan. The Nikkei has
nowhere to go but up, and if you throw in the inevitable currency
appreciation of the yen, you could probably make a pile of, well, euros.

Visegrad Europe would also be high on my pick-list. Soros knows what he's
doing over there. He'll be remembered as the Herbert Quandt of the
Europeriphery yet (after the Dutch financier who bailed out BMW from its
near-bankruptcy in 1959, weeks before the company was set to be gobbled up
by a certain Swabian competitor, which incidentally wouldn't be such a bad
long-term investment, either).

-- Dennis



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