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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: Crimson Ghost who wrote (19636)	7/3/2001 12:29:09 PM
From: JRI	Read Replies (1) \| Respond to of 30051

I agree....I've heard Hays speak........no offense to Don, but he does not appear to be the most worldly guy to me... That kind of "view" does not surprise me coming from him...democracy without a proper legal system is a sham (as it is in most of Latin America)...and democracy in countries in which there are large disparities in wealth-small middle class (which is most of the world)...is difficult, if/near impossible....simply because large disparies in wealth (w/little hope of advancement) open up those countries to corruption....and corruption can render democracy useless and ineffective....and eventually lead to populism......which can lead to some long-term horrible decision-making.... In purely market terms, I think Hays is smoking something (continued deficits of U.S. supported by others)