Monday, November 30, 2009
Do Buy(!) Meltdown 2.0
The blog servers are really humming now that we have all given thanks to the turkeys of the world. The grist for a new blog is piling up head high. I've spent the entire morning reading amazing takes on Dubai, Obama, TARP, and world markets. Mostly it's about how hopeless this world debt situation is and how badly it will all end. I can particularly recommend Jim Kunstler's Monday morning blog which is hilarious if a bit dark. The automatic earth is well done and continues to feature Dorthea Lange photos which are darkly appropriate . I did uncover a 6 month old in depth report on Dubai which is stunning and harks back to the day when the US had good overseas journalists. It is a must read:http://www.independent.co.uk/opinion/commentators/johann-hari/the-dark-side-of-dubai-1664368.html.
While you read about it, keep in mind that this is the place where Halliburton and Darth Cheney moved to as their corporate headquarters, the slave state hell of Do BUY!
Dubai does have some features of their society that I wish we could adopt selectively here, like debtors prison. You owe money, you go to the hoosegow. In the good old US of Tarp, we pay you if you owe money. One other curiosity was that at market close on the Thanksgiving Friday bloodbath, one of the few stocks up big was Sturm Ruger, the gun and ammunition manufacturer. Could this be a portent?