Peak unemployment during GD1 = 22%
Unemployment in Detroit today = 29% (and rising!)
Need one say more?
Monday, November 30, 2009
Friday, November 27, 2009
Dubai
This blog has already bored the livin' crap out of you on Dubai: read here.
Let's focus on the important lessons. The noise of them going bankrupt is irrelevant. That was expected, what, three years ago?
Dubai does not have oil.
Ponder that statement for a while. Ponder it, fuckers, ponder it. Don't just sit there. Think about it!
So what do they produce that the world considers "useful" or "valuable"?
The answer, as all such answers tend to be, is rather subtle.
They provided tax-arbitrage and wealth-arbitrage strategies for clueless nations. Just like Singapore.
In the 80's or early-90's, rich Indians could mosey their way to Dubai to buy the crap that their governments didn't allow them to buy internally. Ditto for Singapore.
Free ports? CHECK.
Duty free? CHECK.
Liberal-ish? CHECK.
But the governments wised up sooner or later. Why send the cream to Dubai when you can have it yourself?
Liberalize they did - India, China, Brazil, Russia, Israel, etc., etc., etc.
So remind me again what Dubai's business model is?
Isn't the bankruptcy bloody-fuckin' obvious?!?
Let's focus on the important lessons. The noise of them going bankrupt is irrelevant. That was expected, what, three years ago?
Dubai does not have oil.
Ponder that statement for a while. Ponder it, fuckers, ponder it. Don't just sit there. Think about it!
So what do they produce that the world considers "useful" or "valuable"?
The answer, as all such answers tend to be, is rather subtle.
They provided tax-arbitrage and wealth-arbitrage strategies for clueless nations. Just like Singapore.
In the 80's or early-90's, rich Indians could mosey their way to Dubai to buy the crap that their governments didn't allow them to buy internally. Ditto for Singapore.
Free ports? CHECK.
Duty free? CHECK.
Liberal-ish? CHECK.
But the governments wised up sooner or later. Why send the cream to Dubai when you can have it yourself?
Liberalize they did - India, China, Brazil, Russia, Israel, etc., etc., etc.
So remind me again what Dubai's business model is?
Isn't the bankruptcy bloody-fuckin' obvious?!?
Fools, fools, fools!
The Sydney Herald reports: Reserve Bank unfazed as housing prices keep rising.
Worried that $500,000 is too much to pay for a Melbourne house? The Reserve Bank isn't worried and it expects prices to climb higher still.
In a speech that amounted to a defence of Australia's historically high house prices, Reserve Bank deputy governor Ric Battellino told a Melbourne housing conference yesterday to expect worse and to recognise that buyers were getting value for money.
Prices would climb further because the global economy was growing again and because Australia had entered ''a new upswing'' that would extend its record 18 years of continuous economic expansion.
This man is a complete and utter fool!
To see this, first read this article yet more time again.
Yeah, they are "inflating" but the price momentum has shifted to commodities. Anybody who can't eat will dump the house to get food in the craw! Heck, they will take just about anything in the craw just to break even.
In all fairness, the EE is willing to buy the fact that Australia and Canada will be a non-proportionate beneficiary of a commodities boom. Assuming there is one. Which there won't be because we're in a deflationary collapse.
Lawd, what fools these mortals be!
Worried that $500,000 is too much to pay for a Melbourne house? The Reserve Bank isn't worried and it expects prices to climb higher still.
In a speech that amounted to a defence of Australia's historically high house prices, Reserve Bank deputy governor Ric Battellino told a Melbourne housing conference yesterday to expect worse and to recognise that buyers were getting value for money.
Prices would climb further because the global economy was growing again and because Australia had entered ''a new upswing'' that would extend its record 18 years of continuous economic expansion.
This man is a complete and utter fool!
To see this, first read this article yet more time again.
Yeah, they are "inflating" but the price momentum has shifted to commodities. Anybody who can't eat will dump the house to get food in the craw! Heck, they will take just about anything in the craw just to break even.
In all fairness, the EE is willing to buy the fact that Australia and Canada will be a non-proportionate beneficiary of a commodities boom. Assuming there is one. Which there won't be because we're in a deflationary collapse.
Lawd, what fools these mortals be!
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