To say the third quarter of 1998 has been eventful, would be a substantial understatement.
Asia has continued to slow, with major cracks in the banking systems of Japan and several Southeast Asian nations exacerbating the situation. Russia has imploded and officials there have made a number of serious blunders which may guarantee against a recovery of their economy anytime soon. Latin America has joined in the decline as bankers feared the problems in Asia and Eastern Europe were contagious. This caused them to call in loans in Latin America. While Latin America was not in default, this lack . . .
Continue Reading: October 1, 1998
