Robert, I found some useful thing in the newletter sou reposted and some questionalble ones:
<< We are witnessing currency and equity devaluations unheard of since the last Great Depression in the 1930's. It's a
classic crisis of confidence not only in the currencies but in political leadership of these countries. Initial reaction from
these autocrats was especially worrisome, ranging from complete denial (blaming George Soros for their own overvalued
currencies, corruption and cronyism) to audacity ("don't worry about reforms IMF, just send us the money").
Coincidentally, elections held or about to be held in most of these countries will hold the key to the success or failure of
reforms, and an end to the crisis. >>
I agree with these takes. But I'm not so sure about this one:
<< In any case we should expect to see double digit inflation >>
As we have learned, at least in some countries, there are still fixed prices.
In any case, please folks overseas, check a little bit what will cost your groceries purchases and other essential stuff in local currencies over the next few months: TV sets <g> (but a good price gauge), clothes, shoes, cigarettes, you get it. By observing these price trends, we will have a knowledge edge over any so called analyst and expert.
Thanks for posting, Robert, also of the weblink,
Thomas |
