HAVE EUROPE AND IMF LEARNED THEIR LESSON...

Way back in the olden days, the late 1990s, the tiger economies of south east asia crashed, millions evaporated from share values, property prices tumbled, U.S. dollars and european currencies were at peril, in steps the IMF, spreads some cash around countries on the precipice of major default on stringent conditions of restructuring, the very banks that invested in the bubble called in their loans which were paid off with IMF funds, the banks took their money and ran, leaving the bubble countries with nowhere to turn but China and low and behold, the very banks that did a runner, poured money into a bogus U.S. property market.

Watch out all you regulators and watchdogs, the banks may have been give a 70% haircut, but with cheap ECB money floating up in the background, don't let the banks run away somewhere else and inflate another bubble, in say, other emerging markets.

Let's think about a way to develop a coherent, sustainable, global economy.

Gray Dourman

www.magichelix.com

CHINA:on our knees for new TVs...

The posture, tone and statements made of David Cameron, Prime Minister of the United Kingdom, in China over the past week demonstrate in no uncertain terms how low we must now bow to the God of consumerism. Volume. More TVs, more songs, more clothes, more cars, more...more...more...and to get more lets us enslave and trample the rights of millions. Let us relegate them to urban prisons, teach them to work endless hours for miserable remuneration, blight their lives with hopes that their children with live better lives than they. Let us sacrifice the principals that our fathers and mothers and their fathers and mothers fought for, died for, suffered for, so that we can buy yet another piece of plastic, another cashmere jumper, another fake Fender guitar. Come on lets do it. Better yet, lets take a crap job at subsistance wages so that those who are lucky enough to control sufficient capital now can take care of their children, send them to expensive independent schools where they can meet expensive friends whose families control capital and recommend that we bow to the totalitarians and keep our mouths shut so that we can buy just one more television to watch us bow and zip our lips one more time.