Gee, I was hoping on some comments on the Big Picture. Doug. I mean STRATFOR's statements about Japan's problems coming from the long-term avoidance of recessions, seems like a marxist kinda thing to say. No pain, no gain. And yet when I read something like Grant on the Euro, those technical things, far removed from a simple lack of exploitation of the masses, sound like pretty important stuff. Course the guy was indicateing a buy on Russia in '96. I myself, have been eyeballing Warburg Pincus Japan Small Cap.
STRATFOR'S analysis is marxist econ-lite, combined with Imperialism, no?
>dependent on external trade, like Hong Kong, or large free-trade
>economies facing high inflation, like Brazil.
>The inertia of the status quo and the lack of hard data on the uncertain
>effects of depegging have permitted this myth to assume the
>characteristics of indisputable truth.
Well Henry, if pegging the real to the dollar brought inflation from 3000% to the current figure, which Investors Bus. Daily (trial sub) says was 1.8%, expected at 6% in '99, then how can you say it didn't work? I'm sure it wasn't all they did, but it may have helped.
>Brazil's decision to abandon the peg is significant because it is the
>last large economy that follows free trade, market deregulation, fixed
>currency and privatization, the fundamental components of globalization
>promoted by neo-liberal economic theories. The decision represents a de
>facto declaration that market valuation of currencies is a more
>realistic option than placing faint hope of an international regulatory
>regime on capital movement or control down the road.
>
Also from IBD, ina blurb, Germany and Japan renew their call for "targets" in exchange rates. You'd think this would be bigger news, wouldn't you? This, more than anything Grant said, would make me think that Japan was itchin' to put it's reserve's in the Euro.
And while we're speaking of things nebulous and economic(ala Grant), I always suspected that the bizarre workings of the Carter economy might have been nudged along by the Big Cigars. Carter just wasn't a big enough scum-bag for them.
Of course, since someone pointed out that Carter's troubles didn't start till Bert Lance was gone, I've taken my paranoia to new levels.
YES, CHILD. CONSPIRACY THEORIES REALLY DO COME TRUE.(tuck,tuck)
IBD has headline article on Soc. Sec. First, everyone agrees it's in the crapper, then, investing in the market will save it, but, towards the end of the article, when they are actually quoteing folks on the commission it seems like everything they've said falls apart, but they don't recognize it. Still, I bet a lot of people never get to page 2 of the article where all the negative assessment is laid out. What a reactionary rag this is. No wonder I'm so fond of BW. Is IBD an influential paper?
Oh yeah, they also had an op-ed piece by the oldest son of Dr. King. Disgusting. It's about his foundation-Do Something: Kindness and Justice Youth Day, or something like that. What a shame. I can't even watch the parade any more. What's been done to Malcolm X is nothin' compared to what's been done to MLK. With a huge corporate boost from his family. A cryin' shame. Cryin' shame.
Humbled by a valiant shadow. p