Today's Salon (continued) -- "Abrasive prick"

[Henry C.K. Liu]

Re Korea: True: Korea rejected "reform".  Untrue: Korea is recovery.
Korea has successfully reenter the global caotial markets, at a high cost, but
that was what led it into trouble in the first place.

Unless financial manipulation is defined as "recovery", economic recovery in
nowhere in sight anywhere in Asia.
True recovery can only take place after the US economy stalls and flight
capital returns to Asia.

Henry C.K. Liu

Doug Henwood wrote:


> Henry C.K. Liu wrote:
>
> >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