Quite honestly, I am a bit surprised by the speed of this and how fast its affecting our stock market.
I just got clued into this Monday(?) and already its hitting our shores.
But the worst is yet to come if you're a stockholder. Rumblings are that you're about to see a massive sell off in stocks because of profit taking. Even more worrisome is the fact that S. America is literally falling apart and no one is watching. You think the troubles in Ukraine are something? Take a look at Venezuela! Argentina is still a mess and the economy is a basket case. Brazil is struggling under mounting debt, worry that the mess in Argentina will spill over its border and infect that country and its still trying to clean up the ghettos in preparation for the Olympics.
Italy, France and Spain are still in awful economic straits and many expect at least one of those countries to need a bailout.
2014 is going to be a helluva year.
kinda glad I got a refund of my previous employer pension+ interest last month so I can go back to school.
ReplyDeleteArgentina and Venezuela are ruin for their own mistakes, Brazil for its world class corruption, they don't need China to screw up themselves. In the other side of South America you have Chile, , Peru, Colombia and Panama formimg the alliance of the Pacific. They are growing as crazy, they have very healthy free market and open economies plenty of free trade agreements with Europe, China, Japan, USA, Canada etc.
ReplyDeletedon't forget that the Federal government is slated to run out of money at the end of February according o Treasury Secretary Jack Lew if congress doesn't raise the debt ceiling (again) and that the gold nerds on the internet are openly saying that there is no gold in Fort Knox, and the Fed has sold off all the people's gold to help Wall street recapitalize.
ReplyDeletePass the alka seltzer....
Well, this is some interesting news. Whole world know that there is no gold in Fort Knox anymore, many years ago it was moved in to other top secret installation.
DeleteHere is something to cheer you up with your morning coffee:
ReplyDeletehttp://www.zerohedge.com/contributed/2014-01-23/roubini-many-davos-speakers-think-it%E2%80%99s-1914-%E2%80%A6-right-ww1-broke-out
and
http://www.edmontonjournal.com/news/Pacific+commander+warns+growing+ChinaJapan+tension+over/9421627/story.html
Meanwhile Global Economy #5 - Germany - just reelected ex-East-German Physicist Angela Merkel for another 4 years (8+4),
ReplyDelete- who now has formed a "Black-Red" Grand-Coalition (Christian-&-Commerce Conservatives together with Social Democrats (Big Labor) - a Major Definition of Bi-Partisanship !!??)
- all to administer a low-unemployment high-tax-income post 2008 reestablished plateau-of-prosperity
- helping fuel the bail-out-&-reform packages superimposed upon southern economies (Greece, Spain, Portugal, Cyprus etc.)
- all while further shrinking its armed forces, but refreshing its Navy, its Army preparing to leave Afghanistan along with US,
- and discussing its global responsibilities with an economy 50% dependent upon export, incl. overseas.
And nobody fretting over 'compromised sovereignty' with US-bases remaining active well into the 21st century; some towns and counties would be poorer without that income...
Whenever anyone is hollering about the 'fundamental' evils of 'Occupation' for the occupied, Germany is one case in which coming up on 70 years since the Collapse of the Third Reich, and right through the Re-Unification everyone seems quite relaxed, with one hand washing the other.
Things were a bit odd for a while in the 1960s when French medium-range strike-bombers had US nukes hanging off their hard-points ready to fly 'east' off West-German bases ready to burn other Germans, or Poles or Russians... Today German products can be bought in all these countries without much drama.
Time seem to always be 'interesting' one way or other !
About the International High Holiday to commemorate utter professionalism of nuclear self-control on ALL sides... should beat 'Valentine's Day' !