Monday, November 23, 2009
Think About This One
OK, no one said that I was consistent. But when you read the news, some things just come out to bite you. Again, I must thank Jim over at Some Assembly Required for giving me a heads up. I highly recommend his site.
One of the reasons that you ought to have a bit of your savings in something non bankish is that all of the government debt has to come to roost somewhere.
This article seems to show that perhaps the Asian countries are getting wise to our banksters little tricks. In my mind, most of the "rise" in stock markets are contrived things, more along the lines of a game of three card monte than legitimate ways to allocate capital.
So now, Bloomberg news has its shorts in a knot because other countries are not willing to throw themselves on a grenade to save us.
I am quite fond of Malaysia. I have far too many entry stamps in my passport from the station at Johor Bahru. I am also quite impressed with how they stood up to the banking community during the 1997 crisis and fixed their own economy with the painful capital controls and hard work needed. They told the IMF (the serial rapist that has historically been employed by our banksters) to take a flying fuck. Good on them.
Well, I have a feeling that a lot of these countries will take a page from Malaysia's book. The hot money (what a great term, as the function that it performs has very little to distinguish it from theft) will have to slow down.
Could get interesting
at 5:59:00 AM