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Written by Daniel Steinmann
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When I listen to the absolute nonsense being thrown around in financial circles regarding the causes and the solutions to the global mess, I shudder to think these people are actually in charge of our economic destiny.
2008 has not been a pretty year and 2009 has all the promisings of turning out an even bigger disaster. And if the world’s big central banks continue to doctor the symptoms instead of cutting out the cancer, the world will remain stuck for a very long time. But how can we expect highly-paid, high-flying execs in the financial world to be honest when the regulators are not honest?
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Written by Daniel Steinmann
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If one considers the number of bailouts that have been rendered to investment banks, commercial banks, investment managers, building societies and insurers, it is no wonder that governments have become reluctant to provide any further guarantees.
The available capital from public sources has all been used up and several trillion US dollars will be created over the next 12 months to finance all the quasi-political promises and commitments made so far. These lifelines were cast not to make the enterprises more profitable, but simply to avoid disaster were they to go under. But over a six-week period, political attitudes have changed somewhat, and America’s three large carmakers found an unreceptive audience when they presented their pleas for a US$34 billion bailout last week.
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Written by Daniel Steinmann
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With every new conservation area we are moving a small step closer to Gert Joubert’s mad but dashing idea of turning the entire country into one large game camp.
As most would know, Gert Joubert of Erindi Game Ranch flashed around some money in the local media for several consecutive years, claiming that he will continue his one-man crusade until government realises tourism is the only viable long-term development option for us. So much for Joubert’s ideas.
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Read more...
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Written by Daniel Steinmann
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With every new conservation area we are moving a small step closer to Gert Joubert’s mad but dashing idea of turning the entire country into one large game camp.
As most would know, Gert Joubert of Erindi Game Ranch flashed around some money in the local media for several consecutive years, claiming that he will continue his one-man crusade until government realises tourism is the only viable long-term development option for us. So much for Joubert’s ideas.
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Written by Daniel Steinmann
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When the markets plunge, it scares me but when they surge like this week, it scares me even more.
Volatility is the hallmark of a market in decline, and the heavier the volatility now, the longer the market will continue to decline.
I watched in amazement Wednesday evening at the closing bell when elated traders on the New York Stock Exchange celebrated a fourth day of rising share prices. I suppose this provided a nice respite to traders who have been hammered black and blue. It also came at an opportune time - the week before Thanksgiving when Americans celebrate their land’s ability to provide sustenance.
But these massive swings, welcome as the upward surges may be, are the ultimate sign of a bear market. The charts, as they progress daily, resemble more and more 1931 and 1932.
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