Sam how are you... you great gay dog? Long time I am afraid. I have been working tyring to finish a book and I am much thwarted I'm afraid by it's getting much too complex. That being entirely my own fault.
I read the following in Forbes today and thought it was really to the point in considering the hubris that now afflicts and seems to have overwhelmed much of Asia and, of course, Asian leaders. Quite extraordinary that this appeared in Forbes at this moment.
"...let's not forget the Babe Ruth curse. You probably know it as the hex that bedevils the Boston Red Sox; they haven't won the World Series since they traded Babe Ruth to the New York Yankees in 1919. So powerful is this curse, apparently, it can upturn natural law so as to let a baseball roll through a first baseman's legs during a crucial World Series game..."
...I think much of Asia had it's chance recently and for some reason they "traded Babe Ruth".... and lost their chance. I wonder how they are going to be punished and how badly they have dented their karma?
The Asian miracle was like a beautiful building built upon this leaking swamp, a sink pit of inequity, Gucci shoes and Louis Vuitton bags and disenfranchised people. I forget did the people beyond a think crust of the "have's" get much of the miracle?
Everything is now OK. Right? Why the Japanese GNP even rose a bit. The is going up. Does anyone address the debts accrued in Asia? Follow the ball.
.....I remember looking at the World Bank loans to Korea in say 1990 and seeing that the bank had lent something like $48 billion dollars to Korea to build infrastructure. It was considreed by fininacial pundits at the time an impossible amount of money to repay. Impossible. Unrepabayble. "Poor Korea they have borrowed themselves into a botomless hole".
Last week Daewoo went belley up. A single Korean chaebol - there are ten large ones I believe- had corporate debt of you guessed it... $48 billion dollars. The pundits were heaving a sigh of relief that finally it was all being taken care of. The debt was being dealt with. Everything was all right. Relief has come.
Right?
Jesus Christ. How deep is this hole? This is only a tiny hole equal to, apparently, the whole IMF debt of a decade ago.
Well... it isn't all right. There is no miracle. They deny everything. They roll it all over. There is no free lunch despite MAKOX doing a triple in a year...
Asia....all this money that has gone to "money heaven". I think this is the Karmatic equal to Boston's trangression....Asia is going to be punished for teh equivalent of trading Babe Ruth.
Only the "little people" didn't get much of a ride except to the poorhouse in Asia. That this keeps going on is simply wonderful isn't it? Asia problem. Nonsense. It's over. The law of gravity, appparently, isn't absolute is it?
Boy we are living in an amazing moment.
Best to you kid,
Clark |
