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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 374.33+0.7%4:00 PM EST
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To: elmatador who wrote (37830)8/2/2008 10:28:34 PM
From: Robin Plunder  Read Replies (2) of 217848
 
"The Nobel Committee really needs to give a prize for monetary policy; from the above survey of mild or extreme inflation-producing sloppiness there can be no question that Brazil would win it and deservedly so.

Finally Brazil, which in the past has indulged in the typical Latin American follies of excessive government spending, wild borrowing sprees, hopelessly sloppy monetary policy leading to hyperinflation and inadequate protection of property rights, particularly foreign property rights. Now things are different. Foreign debt has halved as a percentage of GDP since 2002, while the government's finances are in only modest deficit. Foreign investment is encouraged and its rights protected. Most impressive, while inflation is around 6%, because of high commodity prices, the benchmark Selic interest rate has just been raised to 13%. At that level, inflation will be squeezed out of the system and excessive borrowing will be discouraged. "

we shouldnt confuse a bull market with brains....just cuz their is a commodity boom to bail them out, does not mean they have a good monetary policy...after all, if they were so smart they would back their currency with gold....still like his daughter tho...:)...he did good there....
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