>Doug is respected not because his views are from the left, but that his
>views are often validated by subsequent facts.
An invalidated. For example, I thought the U.S. and IMF would really succeed in restructuring Korea to their liking. But a front-pager in today's Wall Street Journal says, with palpable sadness, that Korea is recovering without "reform." Anyone know what the truth is?
Oh yeah, and the WSJ has an op-ed by Rudi Dornbusch saying that while U.S. stocks may be a tad overpriced, the adjustment should be "turbulent but ultimately soft" - but Japan could still turn into "the biggest financial crisis of the postwar period." How reassuring. Funny he should say that 4-5% U.S. inflation is impossible the very morning the CPI showed a month-to-month inflation rate that annualizes to 4.9%.
Doug