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Thursday, January 29, 2009

Paragons of Macro-Economic Virtue: China and Russia!!

What?!?!

This is what one would say, when someone was to say, imply, or, even suggest, the notion of China and Russia being paragons of macro-economic virtue.

However, this latest article in the FT about China and Russia, giving America a scolding on their macro-economic policies and about Wall St., says just that.
http://www.ft.com/cms/s/0/d0fac984-ed6e-11dd-bd60-0000779fd2ac.html

All's I can say is that booms and busts happen. Nothing much that any country can do about it. Chinese and Russian officials, are just a little upset that their own economies, are suffering because of the American bust--they want to control their own destiny and the only way that can happen, is if America wakes up and realizes that they {the US} should not be world super-power anymore and said countries, should be instead.

Fat chance!

What's really the issue is is that these leaders, Putin of Russia and Wen of China, need someone to blame it on and make it appear as if they are talking tough to who it matters the most--no better place than at Davos, at the World Economic Forum.

In any event, while I am too upset with the way the global economy is shaping out--have warned about this since at least August 2007-- I would prefer to take Chinese and Russian consultancy, with a grain of salt on macro-economic stability.

For one, is a Communist Dictatorship and the other, is a former Communist Dictatorship masquerading under the facade of democracy--pseudo-democracy, indeed.

Take your pick of which one is which!
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