Tuesday, September 30, 2008

IT'S DA ECONOMY, STOOOPID!!



REMEMBER THE DAYS WHEN THE US DOLLAR REALLY MEANT BIZ-NEZ???

(Try using it in Europe...)


I'm not here to comment on the fiscal package that the US Senate failed to endorse today. I want to say that they should follow the example of Sweden in 1996 when the government provided funding but took stakes in banks, thus nationalizing them.


But Hank Paulson and Jamie Dimon I am not. If I was, I wouldn't be a lowly blogger.


ANYWAY----from yesterday's Financial Times....And if you read this, you will agree that WE DO live in interesting times....


'...But, as one European head if state explained at an off-the record breakfast, the discrediting of an open market democracy is dangerous for all the countries of what we used to call the west. 'It is very damaging,' he said, 'Some people are trying to see this as a failure of western values, of capitalism overall. When I met African leaders this week, some of them said to me, 'Maybe we should follow the Chinese model, instead, authoritarianism seems to work for them.'"

-Chrystia Freeland

US Managing editor


At the risk of sounding inconsiderate----I admit I am. Children have never been my cause. The only cause they give me is cause for alarm if ever I find out I was pregnant or if they barf on my rugs. I agree with this except in instances where my dog food is poisoned. (Iams and Pedigree were not our brands, anyway) And I don't use milk powder or buy Barbie.


....It is assumed that the US can borrow without limit. In fact, the US has a budget constraint--less binding than that of other countries, to be sure, because of the dollar's reserve-currency status and other factors, but there nonetheless. This limit is about to be tested and if the global capital market decides enough is enough, the challenge confronting the Treasury and the Federal Reserve will make even last week's exertions seem mild....

The next administration's fiscal options are vanishing before our eyes, Somebody should tell the candidates and the country."

-Clive Crook

FT columnist


O--yan..mga 'anonymous' commenters and people opening blogs behind pseudonyms..maybe YOU GUYS tell the American peeps because I don't think the next Prez is about to say anything.


8 comments:

goodgirl said...

wat can i say - im stoopid like d economy

katrinawrites said...

Oh God, Kitty. I feel like it's the end of the world. Citibank just bought Wachovia--which means Citibank's rating is getting demoted. I don't know how people are getting through this. I remember the Asian crisis in 1997--and I was a money market trader then--and I thought that was bad. At a dinner party last weekend, a lawyer told me "the Asian flu is nothing compared to the U.S. flu." YIKES!

Oriellini said...

The Great Depression is making a comeback.This is the time to invest in euro and follow the Chinese way of doing business...but please avoid MILK!!!i once read an article in FT regarding Asians and Europeans alike shopping and spending their money on 5th avenue(shopping to the highest level...from branded clothing,cellphones,make-up even a piece of rag for $20).Americans still can't understand why we have lots of money to spend on material things rather than the war in IRAQ.Bush devastated the American economy spending billions of dollars on war without good results!!!He's such a loser!NOw, the next President should do anything to salvage the economy.$700 billion for Lehman Brother's,AIG etc...how about those living in a trailer in Louisiana and the victims of devastating katrina and Ike?

Anyways,Philippines got more problems to face with the present administration.NO.1 CORRUPT COUNTRY IN ASIA!!!VERY PROUD!!!

pm said...

Hi Katrina!

I'm a little confused. Why would Citibank get a lower rating if it actually bought Wachovia? Doesn't that mean that Citibank is stable and liquid?

DrJam said...

Citibank is out of the picture now.
Wells Fargo is buying Wachovia.
PM: to answer your question.
the buying entity's stock price always goes down and the target's
price always goes up when an offer is
made for a buyout. that's how the market plays.

Cha said...

pm

if its a merger- its bad coz jobs will be cut big time!

well the asians are all over europe spending their money on chic stuff. very un-chic of the americans to waste their resources on war in Iraq- which by the way, the US spends 20% of its annual budget on military expenditures accoprding to v good report. stoopid americans! its no longer ur time- speak chinese!

loudcloud said...

"I like women who are slightly threatening to men. I find intimidation sexy."

Kitty your profile of Nathan Jenden in Inspire/FT is compact yet substantial in terms of insight on his thought process.

I stumbled upon it while reading Tyler Brule's column (which I was following post-Wallpaper*, IHT and now on his recent sensation, Monocle.)

I hope that most local pseudo editors have your knack for being in the pulse of emerging talents instead of ass-kissing the well-powdered asses of established luxury brands.

This will annoy a lot of your detractors but you embody that classic Volvo ad:

"Independent thought separates leaders from followers."

Cheers!

( oh btw, for the benefit of your other fans, the link is here http://www.katana-xl.com/FT/inspire/ )

Twilight Zone said...

sigh!
all i can say is all the cost is going up, the usd are going down and the salary... stagnant haaaaay.