Hi Maurice, What did I find on these 2000 square miles specks of earth called Trinidad and Tobago? On Sunday my French cousin and I first found Peter, a comrade, together with our tolerant wives, then we found a small boat whose name I do not recall and set forth to Gaspar Grande, a tiny island with some weekend homes, each with own pier, and none connected to any other by road.
We found a school of dolphins between Gaspar Grande and the next island, called Monos, and we found a storm on the stretch of sea between Monos and Huevos. Beyond Huevos, there remains in view Chacachacare and Venezuela.
At one weekend-home we found a self-made Trinidadian Chinese Indian entrepreneur who built a bunch of businesses stretching between Trinidad, USA and Malaysia out of many ingredients, but started with chocolate. Jay found Shangri-la. There is a motor boat named Lolita berthed. There was a bunch of younger adults, friends and family, liming, drinking, and frolicking in the water. The girl to boy ratio was ideal. I felt nostalgic for something I never had when I was a late kid or early adult. The wives were happily nestled in comfortable chairs around a table under the pool hut. I was sure one indeterminate ethnicity early adult brunette girl was giving me the naughty smile in passing as we made eye contact. Yes, the calypso was playing on the speakers, and I did feel motion.
The Chinese Indian, French, Portuguese Guyanese, and French Creole Hakka Chinese started out with sodas, and gradually progressed to Stag and Carib beers, and Rum drinks. The conversation ranged far and everywhere, encompassing Asia economic status (yup, I contributed to this subject, but will spare you of the gory details:0), US policies, Trini oil and gas, and on the possible abracadabra that could conceivably jump kick Trini average GDP on a better-distributed basis. We kicked around an oodle of ideas, and then questioned just why our fellow countrymen would want to work harder to get more. The businessmen contributes equally to all opposing politicians, because (a) you never know, and (b) the clients and shareholders of the businesses are presumably evenly divided on opposing issues and personalities.
We all slipped into the ocean, drinks in hand, away from the wives, talked some more, intruded upon by Jay’s wife who seemed to prefer chatting on the manly subjects of money and takeovers. We then pounced into the swimming pool, drinks in toll, talked some more. Feeling cold, then huddled in the Jacuzzi, discussed still more. Four guys working on Trini socio-economic and commercial issues while soaking in hot water, waiting for lunch. The phrase ‘let them all eat cake’ wandered through my mind more than several times.
See, Maurice, troppo businessmen mean well too, and they own substantial portion (without aid of options) in their public companies so that their management objective is aligned with the other shareholders.
Today I will be accompanied by my Chinese cousin to San Fernando, to the center of oil operations fronting the Gulf of Paria. I am closing out Vacation Chronicles now due to the busy schedule before we leave for HK.
On your <<12 years on a precipice without falling implies some good judgement or lack of a precipice>>, you got it wrong … try ‘Japan has been falling for 12 years and have yet to hit bottom, thus making my imagination running wild as to where the bottom is.
On ACF Mike’s comment about how much of the Toyota is made in the US, he will discover that the local content calculation is biased towards cost of local assembly labour, as opposed to the manufactured imported stuffing.
Hi ACF Mike, I am doing this note offline and so am not responding directly to your post …
Message 17105177
<<… 98% of Japan's debt is held by Japanese citizens. Japan could default on the lot, the country could sink into the Pacific and we'd hardly notice>>
This is not true and cannot be true, because there are not separate pools of savings in a globalized world. There is only one pool, and when it is poisoned or drained, all will feel the consequences. Hong Kong has traditionally sustained a 30-40% domestic savings rate, is flooded with international capital, and yet, when the Japanese banks called back their loans in the territory, the effects were felt, complaints hit the headlines, and people felt ill. Even though Japan has few amounts in HK today, any further decrease of Japanese participation in other parts of the world will affect us in HK again, because there will be a chain effect, as some other capital in HK will be moved to where it will be needed, at a high enough price. Capital is precious, and this will be the defining lesson of the new millennium.
Back to you Maurice, in any case, at the end of day, bottom of valley, edge of precipice, et cetera … so on and so forth, if the economy indeed pull up its nose and takes off again, you guys win, I win less; and if it sets down violently or otherwise without landing gears, we all lose, some more than others. Debt will tell, and thousands of years of history are not with you. But, as I imagine the bulls would say, ‘show me the new economy math’, and as you would know I say, ‘tout ou rien’, sounding so much better than 'all or nothing'.
Chugs, Jay |
