Thursday, November 02, 2006

Neil Charnock: “Developing economies follow a general pattern where infrastructure leads to internal growth and prosperity…”

“[Gold] is a highly political metal…”

Martin D. Weiss: “The First Capitalist Empire”

Kirby: FAILURE TO DELIVER OR "DELIVERANCE"?

Fails To Deliver
FTD
Naked short selling

Econotech:

“… the most important struggle in the world today is not Bush/Cheney’s “war on terror.” It is about who will control the “commanding heights” of the global economy in the 21st century, via its monetary/financial and energy systems.”

“The harsh reality is that the U.S. of today has nowhere near the economic, industrial, technological and most especially financial power in the world that it did in 1945, when an ailing FDR met with Saudi Arabia’s first monarch, Ibn Saud, on a Navy ship in Egypt to seal the foundation "oil for security" deal of the post-war era between the two nations, nor even in 1980, as U.S. industrial descent was already picking up steam just before the disastrous precipitous decline in Reagan's first term, when the “Carter Doctrine” of unchallenged U.S. control of the Persian Gulf was explicitly declared.”

”…the U.S. has become a nation of middle-class homeowners who are doubling as inadvertent (mostly) speculators, especially in real estate, whose economic self-interest in their home equity makes it virtually impossible for them to tell, or even beware aware of, the difference between real economic wealth creation and the paper version.”

Roach (‘The Fallacy of Global Decoupling’):

”In my view, for an economy to be classified as a “decoupler” it must satisfy three conditions: First, it must have self-sustaining domestic demand -- especially private consumption. Second, it needs to have a diversified export mix -- both in terms of products and destinations. And third, it must have policy autonomy -- the ability to establish independent settings for monetary, fiscal, and even currency policies.”

“…given the fragmentation of the Chinese banking system, along with the government’s increasingly determined cooling-off campaign, I think it is unlikely that China can succeed in using discretionary stabilization policy to de-link its economy from the US.”

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