Re: Rats abandon ship... pundits spin like mad

[Rob Schaap <bantam@xxxxxxxxxxxxxxxx>]

The spinmeisters have more work ahead, I reckon.

Argentina has slowed its economy to crisis-point by slicing public expenditure
in response to a national credit rating that wouldn't allow it to borrow at
rates it could afford.  Yesterday we heard capital was bolting, and that
Brazil has caught the cold.  Both are now in the basketcase category, with
poor ol' Turkey.

Now the Beeb tells us Poland is in big trouble, and that Italy has just
announced a budget deficit three times that allowed by the stability pact.
Worried Eurosuits are being told Italy will privatise its way out of trouble
(at firesale prices into very soft markets).  Reckon that might keep the Euro
down a bit, which should keep European demand down a bit.

And I hear China is about to open its equity markets, thus probably consigning
many of its productive assets to the dustbin of history.  Anyone got a view on
how that before the spinmeisters chime in and muddy the waters?

Cheers,
Rob.