Good evening Joel, Additional comment: Besides the US, Japan is also a place (a) difficult to change momentum, and (b) high inertia. Momentum and inertia are simply different aspects of the same physical attribute. Japan is still struggling with its bulk, with plenty of help from the US SUV-driving consumers, and yet, still ...
Same again for China, though I would say China has bottomed after its 250-year slide.
I just got back from the broadband connected sticks of ShiJiaZhuang, and noted what O'Neill said about Brazilians, IMF funds and Swiss bank accounts. It is all quite incredible, not very diplomatic, and Bush-league-ly, funny. He seemed to have thought that he lived on a different planet than the Brazilians.
Now he will have to justify sending IMF/US money to Switzerland via Brazil:0)
A bit of chump change to Argentina, a slice of dole to Brazil, a chunk of mullah to Israel, a spot of scratch to Pakistan (thus a rich dividends from Hub Power for someone in HK), a packet of plutonium hush-coin to Russia, a deluge of consumption cash for Japan, and pretty soon, we are talking money. The burden is getting very heavy.
The concern on this thread, of course, is when and how all this will stop. The novelty is wearing thin and the knees are starting to bleed.
Chugs, Jay |
