----- Original Message ----- From: "Mark Jones" <[EMAIL PROTECTED]> To: <[EMAIL PROTECTED]> Sent: Sunday, November 03, 2002 11:52 AM Subject: [PEN-L:31808] Re: Re: RE: Re: Roach on Asia
> At 03-11-02 19:45, you wrote: > > > > > >There seems to be a consensus among US bears of a nationalist bent to say, > >in effect, "yeah our country's a mess but the rest of the planet is in even > >worse shape so keep that money comin' to our shores....." > > > >Ian > > > Is this also an argument in favour of ignoring the words of investment bankers? ============== Not at all. > > In general, I don't see how anyone can credibly deny the existence > of savage deflationary forces at work in the Asian subset of the > capitalist world system, particularly in Japan. > > Mark ================== Right, 'but' the other shoe that keeps the deflation from becoming a big black hole is US imports from the region and the $1billion + a day comin' in as well. If the rate of return for Asian investors is higher in the US than in their own region, why increase the level of investment at home for home markets? The Japanese, for one, would need far bigger homes to put all the stuff that would need to be purchased to increase AD. Ian
