[lbo-talk] they don't make mega-bears like they used to

fcassia fcassia at gmail.com
Wed Dec 24 15:39:26 PST 2008


" Another source of stress is emerging market economies. There are about a dozen of them that are on the verge of a potential financial crisis: Latvia, Estonia, Lithuania, Hungary, Bulgaria, Romania, Turkey, Ukraine in emerging Europe . . . Pakistan, Indonesia or [South] Korea in Asia. Places like Ecuador that just defaulted. Argentina and Venezuela in Latin America."

I love it (sarcasm) when economits put all sorts of different countries with different realities into the same package.

For instance, I'm sure that you're aware that Ecuador defaulting on its debt is not an "unwanted result" of the current "financial crisis" but was rather a deliberate decision by its president, after an independent audit released a report on all the irregularities they found.

More here http://www.jubileeusa.org/fileadmin/user_upload/Ecuador/Ecuador_debt_fact_sheet.pdfupload/Ecuador/Ecuador_debt_fact_sheet.pdf&ei=rMdSSaqIK4G4tweY74XsBg&usg=AFQjCNFky81qRXliw8T1fFLKw1vufDO_Cg

FC



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