In a sock-to-the-jaw article that I think everyone should read, Nadeem Walayat shows the political-economic forces tides beating against our cliffs and undermining our liberty and prosperity. Like me, he sees sovereign wealth funds as part of this process.
It seems that we must wish our own countries a spell of hard times, in order to stimulate the changes that will defend us from permanent ruin.
1 comment:
everyone should read
Indeed (and thanks yet again for the service you provide in devilling out these pieces, Sackers)
I immodestly like to think we at C@W were alert to the SWF phenomenon (threat ?) in a timely fashion
when we first covered them early last year I suggested that, while some SWFs are strategic, others (no names!) are just dumb money, and I am still inclined to think this.
Investors here can benefit (well how else can we approach the matter?): and I see PE seeking to arb / mediate the situation with their greater transactional skills
of course if the melt-down is sufficiently severe there will be no need for intermediation, as we've seen with some banks ...
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