Colombia & Peru Fastest Growing Markets since 2002

[LastLion]

Great article on the LAM markets and how they are doing, if interested in investments or living there, give it a read.. If you havent already invested I would say you are coming in on the high markets down there. But thy are far from having the ceiling we self imposed!

http://www.thebanker.com/news/fullst...t_page=NO_PAGE

[Sailover]

Yep, I already invested. Paid the rent, utilities and bought some food. Now to watch it all grow!

[Cap'n Jib]

A few observations. When it comes to evaluating other countries, bankers are STILL using the old paradigm. After the 1999 World Bank protest in Seattle in 1999, things have changed in most ‘developing’ nations. Simply put, they do not buy into the US and Great Britain definition of capitalism. They are more oriented on how their citizens benefit first, and corporations second. How silly!!

http://www.globalissues.org/article/46/wto-protests-in-seattle-1999

As the media in the US, is owned by large and multinational corporations, the coverage of the event took on a ‘Twilight Zone’ presentation. Even the old name calling of “[a] small group of self-described anarchists” was trotted out. Why are anarchists ALWAYS self-describing themselves according the media? No other group seems to have the organizational skills and/or philosophical convictions to advance (?) their agenda. Anarchists, by definition, are disorganized.

The following link offers a more rounded coverage of the event.
http://www.fair.org/index.php?page=1822

The result….after 10 years is that some in the financial sector are getting the message with the G-7 and/or G-8, being put more in the background and the G-20 now advancing the concepts of transparency, caps on Executive bonuses, dismantling many of the more absurd derivative products and the elimination of US and Great Britain subsidies of many of their industries.

On a more personal and financial note. As the countries of Latin America, on balance, do better weathering the financial crisis, should the US dollar be devalued between 30% to 50% by the year 2012, those of us who live here will be in deep financial doo-doo!

[TheWix]

Cap 'n Jib,
Well said. What ever happen to We The People !!!!!

[LastLion]

Originally Posted by Cap'n Jib

On a more personal and financial note. As the countries of Latin America, on balance, do better weathering the financial crisis, should the US dollar be devalued between 30% to 50% by the year 2012, those of us who live here will be in deep financial doo-doo!

Cap' Do you ever read Paul Krugman? Not sure of the spelling..

[Jim]

Yup. Even as we discuss this, Brazil, India and China are being added to the Big 8. There is no way to solve international financial problems and global warming without including the super populated countries of the developing world.

China will have ten times more effect of the value of the dollar than all the countries in LA combined. China is pretty much in a position to dictate it's own rules, as it is doing by setting the value of its currency instead of allowing it to float and have its value determined in the marketplace.

[Cap'n Jib]

LL, I used to read his articles as well as having read a couple of books. Couldn’t remember why I quit reading is material ( I am restoring my research hard drive) so I had a quick peek at Wikipedia. Two of the following quotes seemed to jar my memory. What would we do with out Wikipedia?


“Krugman has almost never come out against extant government interventions, even ones that expert economists seem to agree are bad, and especially so for the poor."[8] “ – Wikipedia

He is advocating another financial stimulus package. Usually the Government has a ‘front’ man in the press that calls shots and makes recommendations before the Government acts. By watching the reaction to articles, Government officials can get a fairly good read on the public reaction without doing anything at the time. I am against ANOTHER stimulus because we do not have the ability to pay for the last one. Therefore, making devaluation of the dollar necessary in the future.



Daniel Okrent, a former New York Times ombudsman, in his farewell column, criticized Paul Krugman for what he claimed (without supplying details) was "the disturbing habit of shaping, slicing and selectively citing numbers in a fashion that pleases his acolytes but leaves him open to substantive assaults."[81][82] - Wikipedia

This one really rang my bells. I remember a paper done for the Harvard Revue, in which he cited those points that ‘proved’ his case. While the Review article offered the plusses and minuses of a course of action, Krugman left the minuses untouched. I am for LESS Government and less Government interference in our lives. Economists NEVER say, “I really screwed up on this one. The advice I offered was poorly thought out and downright stupid!”

Been reviewing documentary interviews on The Great Depression, and those who lived through it. Surprising and yet not so, many of them said the two biggest lessons learned were 1) never trust a banker (apologizes to Ciza) and 2) never trust the Government.

[LastLion]

Originally Posted by Cap'n Jib

Been reviewing documentary interviews on The Great Depression, and those who lived through it. Surprising and yet not so, many of them said the two biggest lessons learned were 1) never trust a banker (apologizes to Ciza) and 2) never trust the Government.

That is all fine but lack of trust doesnt do much for the economy..

I am all for another stimulas this time, it being Single payer or close to it health care!!! I think that alone would build the confidence americans are looking for. ALthough a tax hike on the rich wouldnt hurt either!

[Jim]

One of the causes of the great depression was people could buy stocks on margin, paying 10% of the price and "owning" the stocks. Of course, when the value fell more than 10% and they needed to come up with immediate cash. The market crashed when they couldn't do it.

One of the causes of this depression was:

(1) People could finance 100% of their homes, instead of the traditional 80%. This allowed people to be able to afford homes that were in a precarious position to start.

(2) People were enticed with three years of super low interest. The presumption was they could refinance in 34 months and the appreciated value of their home would make this easy. When home values didn't appreciate and actually went down refi was not an option and they couldn't afford the higher monthly payments.

(3) Home appraisers were chosen by lenders and they were willing to give fictious or maybe just wildly optimistic valuations of a house.

(4) Many people refied existing mortgages, putting the appreciation of their house in their pockets to spend, and over spending

So when house values finally stopped going up, even on paper, the housing market collapsed and the rest of the economy followed.

That is all fine but lack of trust doesnt do much for the economy..

I am all for another stimulas this time, it being Single payer or close to it health care!!! I think that alone would build the confidence americans are looking for. ALthough a tax hike on the rich wouldnt hurt either!

I agree completely. If the government doesn't provide leadership and help, we are in deep trouble. Government regulation and oversight is much better than letting unrestrained greed make the economic determinations.

LL...that's two things we've agreed on in the last few weeks. Who'd a thought???

[Ciza29]

Cap;
No offense taken.
However I must say you can always trust the government to do what is in the best interest of big banks.