Bears, Bulls . . . What We Need Is Leaders

There has been no scarcity in the media of all kinds of experts--market “bears” and market “bulls,” those who say “we should be worried” and those who say this is “just a necessary correction,” etc.--but no one seems to want to put forward substantive options and ideas for actual leadership away from the brink of possible world recession.

At least columnist James Flanigan [“Japan’s Dilemma Is a Major Test for U.S.,” Aug. 12] is suggesting a proactive approach--for the Clinton administration to do something other than to wring its hands in dismay at the worldwide impact of the continuing fall of the yen. To continue to “whistle past the graveyard” is not reflective of what should be the U.S.’ role as a leader in assuring international markets that Washington will do more than let world economies slide into a global free fall.

EMMA M. SCHAFER

Los Angeles