U.S. foreign debt

Doug Henwood dhenwood at panix.com
Sun Sep 26 11:07:58 PDT 1999


Rakesh Bhandari wrote:


>As far as I can tell, the US has the opposite problem of Southeast
>Asia--too much confidence

Yes, exactly. But SE Asia went from being the future of the world to being a stinkpot of corruption and inefficiency in the space of 6 months. That kind of rapid reversal - which can have massive financial and economic fallout - is what Greenspan has been worrying about (I'd give a cite, but the Fed's website seems to be asleep).

Doug



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