DJ, I am travelling back to HK tomorrow. Just flipping channels of TV here in the hotel in Beijing. SARS, SARS, SARS, SARS news everywhere. Isolation sections established all over. Cleaning and spraying everywhere else.
Nationwide 7-day May Day holiday cut short to cut domestic travel.
Schools closed on voluntary basis even if no one had fallen ill.
Small businesses report drastic cut back of business traffic.
I am guessing that what took place in HK is now taking place on the mainland.
Tourism business Asia-wide is dying.
I am of the opinion that it is way too early to buy supposedly already beaten down Asian regional shares.
Keep cash level very high is my advise, away from dollars, close to gold. Trade volume can drop sharply, together with dollar recycling and deficits financing, and if the Japanese factories in China slow down, watch out below, all across the world, where everyone is living on Japanese money.
I would not think there is anything that can be construed as the basis for a bull market in paper assets of most kind.
On some channels, I seem to get a sense that Iraqi are prepared to vote, by the looks of self-flagellating 'People Power' displayed, to become an Islamic Republic of a somewhat fundamentalist bent. I do not understand the game plan of the Coalition of the Willing. Are we still going according to the plan, or inching along the Script?
Chugs, Jay |
