Hi DJ, <<… we reached the exhaustion level … how to go full hilt and spread the risk … puts on SnP and leaps on eu/US$ are but maximum 1.25 (and not 2) different things … not many degrees of freedom by now in the megasystem. Or, rephrased, there's one BIG dimension and the rest is a non-issue>>
Yup, I will nod on that one. It is difficult to paint a delicate still-life from inside a studio that is undergoing an entire repainting of its walls and varnishing of its floors.
Dateline 2:00pm, Wednesday April 24th, 2002. Boeing B737-800 flight to Yichang.
I got a 2-hour reflexology massage at the Shenzhen International Airport after marching off the TurboCat like so many soldiers under the globalization standard. I will speak about globalization in a moment.
I generally travel light, and usually am dressed for travel in Timberland khakis, multi-pocketed safari shirt, a 36-pocket fishing vest, and boat shoes.
I can afford to lose all my luggage during travel because I have all I need in my vest: Compaq pocket PC w/ fixed line modem, mobile phone, IDs, credit cards, cash, three gold coins (1oz, 2x 0.5oz), flash cards with backups of all data files, and tickets.
I buy clothing once every 3 years, always of multiple sets of the same solid colours, and always from Landsend and Timberland. I never fuss over a single lost sock; because all my socks are the same but in two flavors, dress vs. hiking.
Supply-siders should not fret, for my wife over-compensates for my lack of shopping enthusiasm.
Globalization pays my bills on the active income statement, and its cousin Deflation threatens my NAV on the passive balance sheet, extolling and extorting me to serve my paymasters like so many other economic mercenaries, roaming from harbours to airports, and then taxi stations.
More about globalization in a while. Let me first tell you a bit about reflexology (foot massage).
The sensitive and expert fingers of the reflexology artists are able to sense tension, stress, ailment, and how much or little sexual energy has been discharged or stored up. That is right, do not use a ‘reflexologist’ introduced to you by your wife if you have been naughty.
The hardened knuckles of these same artists can relax, ameliorate, and cure as may be needed.
I have no physical problems other than being on the high-energy side of the potential well. I catch a cold perhaps once every 5 years, and I do not recall catching anything more serious than cold.
I deal with tension by laughing, and so stress is an amusing matter. I have no trouble sleeping and I wakeup without the aid of alarm.
What reflexology does for me is pushing me into a higher state of restful sleep without stirring or waking up until it is time. When I do wakeup, after a stretch of arms and legs like a cat, I feel as if I have just exited the sauna, and then refreshed by a cold shower.
The expert fingers can locate and press, fondle, punch, tap, and cause excruciatingly luscious pain on various parts of each foot. The strands of nerves, nodes of acu-pressure point and sinews of mystical 'qi' are worked over, along with the internal organs assigned to each and every node. After each session, I need sleep. Maurice, pay attention, this hocus pocus of your mother’s people really do work.
Oops, I almost forgot. Some girls really like it, to the point of addiction, and will do just about anything deprave act to make sure they get some of that therapeutic treatment.
Enough about foot massage.
Onward to deflation. I meant to write globalization. Same difference, and variations of the same. The latter gives me active income, and the former rips to shreds my passive balance sheet.
Money Rock Hong Kong, perhaps one foci of the globalization/deflation ellipsoid, is in the 41st month of deflationary inflation and expansionary stagnation.
GDP growth = 3.5%, down from 7-10% in recent memory;
Utilities inflation = 12.7%, up from 0%;
Durable goods deflation = 7% per year, expected by the economists to continue for 4 more years, as long as the cost of such China produce-able goods plus transport across one hour of space less HK local price is a negative number;
Housing deflation = 5-6% per year, continuing, as Hong Kong folks snapped up 4-5,000 apartment in neighboring Guangdong Province during the first quarter. I am thankful that my location specific full ocean view apartment overlooking a small bay and isolated beach has not been hit off its low Asian Financial Crisis purchase price, but then again there is still plenty of time for damage yet.
Wage decrease = 5-18% over the past 12 months, and continuing;
Unemployment = 7%, up from traditional 2.5%;
Overall deflation = 2.5-3% per year;
Government budget = unsustainable deficit, requiring tax increase, spending decrease, or will cause the sudden implosion of the currency due to embedded stress of the USD peg. At least this is what THEY say. I believe THEM.
I just read in the newspaper that Nokia's subsidiary is fighting deflation with my favorite metals, platinum and gold.
Nokia just launched their top-of-the-line USD 20k platinum and gold cased mobile phones, heavy, and meant to be "passed down the generations like a fine watch". There you have it, Maurice, GSM forever, accompanied by Aztec metal, conceding no space for CDMA. This must be the worst of all news for my cyber-friend in New Zealand.
Not to worry, Maurice, I will not buy one unless its innards, instead of silicon sand, are made of glowing vacuum tubes and clackety-clack electro-mechanical relays, topped off with a classic "It Came from Mars" antenna, and decked out with idiot-lights and rotary dial:0)
Gad, what a machine that would be!
Chugs, Jay
P.S. Yes, I too noticed that Maurice’s Q money had devalued a bit, and on bottom of the wobble with the USD, we collectively saved him some money by shooing him away from that love affair with QCOM. |
