Firstly the oily screw-ups in the Aegean are finally doing one thing right – selling islands and their heritage to foreign interests. Not that it really matters, at least not the nearest years. In the long run some foreigners may create some production, introduce one or two rational thoughts or simply bring in some cashola. But the 12-13% (probably more) in deficits and the sky-high debts cannot be solved by selling some islands. It is a long term plus and as such I applaud it, but, as said, it won’t matter, the Greeks are toast.
Gold is at an all time high again. Remember how pundits have again and again claimed that the limit has been reached? There are tons of manipulations and I won’t go into all the scams going on, but Gold is still a great buy even if the price is kept ‘too high’ because the next crash (soon) will double or more the price. Again we see pundits and knowitallidiots saying that gold can only go down. They’ve been saying that for ten years now. They are idiots and you’re an idiot if you listen.
In the US foreclosures are beating record after record. Authorities, banks and pundits are pondering on how this can be solved. Of course more regulations and looser lending practices is the way out… The latest is that homeowners should keep their homes (which they do already) despite defaulting on their loans and having no prospects. And I cannot stop laughing…
In Eastern and southern Africa the famine catastrophe is picking up speed. Over 10 million people are at risk of hunger in the Sahel before the September harvests, according to the Food and Agriculture Organization’s (FAO). In Niger, about half of the 13.4 million inhabitants are facing hunger. Up to two million Chadians and hundreds of thousands of Mauritanians and Malians also need assistance. I wrote on this blog over a year ago that if our “saviors” Oduma, froggy Sarkozy, Merkel and the rest of the criminals are allowed to go through with their mad schemes tens of millions of Africans would die. We are not really there yet, but play with the thought that the next harvest fails or a couple of new warlords start having fun. Because that never happens in Africa… Or let’s say that the world plummet down that abyss am waiting and rooting for. Either way, or probably both at the same time, millions, tens of millions will die and in reality it is your fault. You have voted for it. Well, Africans in general are idiots so they have themselves to blame, but your part in this is also clear
Be back soon with more ‘I told you so’…
As the LA Times reports “Home prices in major cities including Beijing and Shanghai have easily doubled over the last year as families and investors rush to grab a piece of the Chinese dream. A typical 1,000-square-foot, two-bedroom, one-bath apartment in the capital now costs about $274,000. That's 22 times the average annual income of a Beijing resident...”
ReplyDeleteThey bid up the real estate prices and are forced to demand higher wages to finance the buying frenzy and justify their actions to their own morale of paying ones dues.
ReplyDeleteThe chips are in, double-dip is confirmed and the split between Europe and the US is becoming ever more clear. Three words decide the future of the world : Inflation, Interest Rates and Bankrupcies
ReplyDeleteYou would want none of the first, more of the second and enormous amounts of the third, if we are to survive this.