I dont understand the intricate game of finance the way they play it in those circles, but does it need to be so elaborate and complicated?
Warren Buffet says, keep your investments simple. Dont invest in things u dont understand. Buffet and my granny would have made quite a pair. Remember him telling his shareholders "The guys who invented derivatives, he referred to options & futures, should be hanged " or something to that effect. Yet the Americans chose to ignore the Oracle of Omaha...
We are a third world country with third world ideas, we should be thinking & doing things differently to be in the first world. Blindly apeing the west in all manners for convenience and process can be just as dangerous. Take from them what is worth taking like their work ethic & discipline, not their fast food.
I love my fast food which comes to me in a steel plate, never mind though, that today am charged extra for sambar and chutney. It still beats the junk wrapped in butter paper served on a plastic tray. Cereal breakfasts are not for me, a good solid Kheemapau beats the living daylights out of any thing American.
These are just stray thoughts as we await the following
- Whether the aid component of $700 billion or more is approved by the senate
- Whether its going to be sufficient?
- Who foots the bill this time, rather where are they going to create this required money from?
- Whether someone has got the measure of how deep the rotten roots of the sub-prime have gone to - this is while the US govt plays at the socialist game of nationalisation to uphold the falling domino of finance. And finally
- Whether the US of A should actually join its elite neighbours to the south and file for Chapter 11?