hi bill, i think cnooc-unocal is a test
i think china will not likely buy foolish, because the decision process is fundamentally different, philosophically and approach, from japanese corporates and arabic kings
peeling off usd 20 bil (one year's interest or 12 months' devaluation/depreciation) from a usd 600 bil and growing hoard is not that difficult a decision, especially given that the usd care-taker, professor burnandkaput announced on international television what his intentions were
j6p may not mind being printed into the poor house, but a sitting government and ruling party do mind, terribly, especially if they intend to remain sitting and ruling
this is why i cracked about walmart, it is purchase-able, if not in its entirety, than perhaps a strategic 10-20% stake, and if not walmart, then someothermart, distressed or healthy, kicking and screaming or laughing and high-stepping
interesting times, but i, and so does everyone else, expect PROTECTIONISM and FEAR MONGERING, and lots of TwoAPuc (The Worst of ALL Unintended Consequences)
buy gold, because its intrinsic value is not zero |
