Showing posts with label communism. Show all posts
Showing posts with label communism. Show all posts

20070303

The end of financial safe havens - Red blogule to speculation

Shanghai sneezed, Tokyo coughed, the whole world panicked... but avian flu had nothing to do with it. According to Ben Bernanke, Chief Futurologist Officer at the Fed, this week's small bump on the eternal path of glory of the World's greatest stock exchanges doesn't mean the big naughty R will strike anytime soon.
Yet it shows how nervous investors are, globally. There is a lot of greedy money everywhere and not only from your usual suspects (the so called developped countries) : everybody is well informed and almost free to invest almost anywhere anytime. Speculation remains good business but demands better nerves than ever. Hedge funds were the first to collapse under their own weight and now, even traditional players struggle. The money is there, growth is there too, but the place is so crowded with both experts and beginners that nothing is guaranteed.
There is no such thing as a financial safe haven anymore, and this greedy money will somehow have to focus on tasks more useful for a larger community. No wonder some people have been rediscovering The Capital lately. But with a fresher look.

I like to compare Karl Marx with Louis Pasteur : both were great observers and could deliver pertinent diagnosis, but Carlito couldn't go all the way of experimentation and would often wander too far along the path of interpretation, coming back with irrelevant prescriptions and leaving to other doctors the honor of delivering counterproductive treatments.
I know this is the kind of excuses used in the past by the Supreme Soviet or the CPC (Communist Party of China), but I do think the time has come for the cast of pure speculators to feel the heat and join the Hall of Shame : you have a right to sell weapons, tobacco, alcohol, casino chips, and to make a lot of dough with it, but don't expect to be respected for that.
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