Archive for March 31st, 2009

….And Now It’s Happening In Mine

xThe Quiet Coup – The Atlantic (May 2009)

Typically, these countries are in a desperate economic situation for one simple reason—the powerful elites within them overreached in good times and took too many risks. Emerging-market governments and their private-sector allies commonly form a tight-knit—and, most of the time, genteel—oligarchy, running the country rather like a profit-seeking company in which they are the controlling shareholders. When a country like Indonesia or South Korea or Russia grows, so do the ambitions of its captains of industry. As masters of their mini-universe, these people make some investments that clearly benefit the broader economy, but they also start making bigger and riskier bets. They reckon—correctly, in most cases—that their political connections will allow them to push onto the government any substantial problems that arise.

So says IMF dude, and he should know.

Collapsing Under The Weight Of Infernal Contradictions

I thought this was sorta funny.

It’s time we played the patriot game, comrades – Martina Devlin, Columnists –

I believe in unions.

And then

Recently the Economist Intelligence Unit, provider of industry and management analysis, recommended the Government should appoint former EU Commissioner Peter Sutherland to the Senate. Then he could be drafted in as enterprise minister, bringing his considerable talents to Cabinet to sort out this mess. Excellent thinking.

Next week: I believe in the Virgin Mary, which is why I’m recommending they consider making Charles Manson the next Pope.

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March 2009