Thoughts after a week selling Europe to Yanks

Doug Henwood dhenwood at panix.com
Tue Oct 26 09:26:09 PDT 1999


DANIEL.DAVIES at flemings.com wrote:


>Not wanting to appear to be slagging Dennis' stock tips, or anything, but
>I'd warn that Deutsche Bank's industrial ownership comes with a tasty dose
>of exposure to the New York real estate market, through its ownership of
>Bankers' Trust. And at this very moment, Donald Trump is driving piles for
>a new 90 storey luxury apartment block. I'm reminded of the old bankers'
>proverb: "Any time that Donald Trump is able to borrow any money
>whatsoever, to build anything whatsoever, is a time when money is too
>loose."

Even more alarming, Trump is seriously considering a run for the presidency, claiming a great popular clamor for his executive services - not visible in any poll I know of.

Isn't there also a world's tallest building indicator? Malaysia undertook to build the world champ just before the region went into crisis, and I just read that someone in Chicago is proposing to build the world's tallest. But I recall a longer history of this sort of thing than just a couple of datapoints.

Doug



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