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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: John Pitera who wrote (79283)5/21/2008 2:11:42 AM
From: Elroy Jetson  Read Replies (2) of 116555
 
Most of these Third World nations like Brazil have a way of snatching defeat from the jaws of victory. They just don't have the long-term history of stability to draw on. Only a history of dictatorship, economic collapse, and a lack of respect for commitments, contracts, or the rule of law.

It's like Newton's law of inertia in a social setting. Long established trends always tend to reassert themselves, even if the counter-trend seems long-lasting.

It's like the looniness that infested the US with Ronald Reagan - the idea that you could increase government, personal and business spending without having to pay for it. Some sort of magical alchemy would occur and it would all balance. Of course it never did.

Now the US gets to end this 25 year counter-trend and go back to being the America we grew up in. It's going to be very painful for those who got used to living in fantasy-land over the past 25 years.

Another example is Russia. My Mom's cousin ran a trading firm with the Soviets and then Russia. He saw them go from bad to worse, after the collapse of the Soviet state, and then crawl back to being merely bad again. Now with Putin establishing a new fascist government they're quickly sliding back into the muck again. Their society seems incapable of ever moving forward into something better
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