Death Wish

I am not really a financial or investment kind of guy. I figure that if you spend less than you make and save some you'll be OK That doesn't mean I don't have some investments, it just means that I am not obsessed with making money. But, I have been watching the recent fall in stocks world wide markets.

Not being heavily invested I can afford to snicker at the panic and silliness that might be about to ensue. People who place their value as a human in monetary wealth make some really funny, albeit sad statements in times like this. I realize that laughing at other people's misfortune is a character flaw but sometimes we can't help who we are. More importantly, I am not laughing at the poor who are genuinely going to be hurt in an economic down turn. I'm laughing at the smug, self important speculators and arrogant new rich who don't think they'll ever lose and have never suffered through a recession. That means most of the newly rich "entrepreneurs" in China.

Because investors in the PRC have never been in a down turn they have the potential to be more fun to watch than most others. They have a strange combination of patriotism and incompetence that is going to be fun. There were reports on the Chinese news stations about Shanghai investors who were exuberant because when the Shanghai market fell others did too. They were making statements like "See, the world follows us . We're important!"

Idiots! Who is going to starve first the US or the PRC? If the world goes into a severe depression the PRC will wish that they'd been a little more careful.

I wonder when the bodies will start hitting the pavement in Shanghai?

Until Next Time
Fai Mao
The Blogger who is more of a saver than an investor