I guess the recent rally is largely caused by the curb on short selling. There is little change in the fundamentals of financials and their results are by no means encouraging. So the sudden rally in financials as their dramatic fall is artificial manipulation.
My concern is how long can we sustain the "rally"? We are seeing decline in oil and other commodities prices, another dramatic fall in tech stocks, and even healthcare and pharma stocks are not performing well. All that we like about USA including financials and technology are weak or very weak. Yes, this is to all intents and purposes a bad recession and I just don't care about the technical or academic classification. As long as we are getting poorer everyday, recession is here and very much alive. If life goes on like this, I am sure poverty will become the most serious problem facing humanity in this 21st century.
Other problems will come with poverty: social unrest, mental disorders, drugs and other crimes and worse widespread contagious diseases. This is the price humanity must pay for making a mess of this world, the global economy and our Garden of Eden. But the question is why is the poor paying the price? Not the ruling elites, not the rich or super-rich, not the high-rank officials singing in their golden chambers, not the famous political celebrities hanging around in town, not the high-sounding charitable figures dancing on stage, not the big spenders ...
Here is a new world of social inequality and disorder. When climate change hits harder, food or rather famine will become another threat to humanity. Yes, we will end up in terrible wars around the world. Not single a few wars but a number of great wars here and there, unending and unmitigated until a large number of the human population is reduced. It may sound very cold an brutal but when humanity cannot find solutions, the last resort is to terminate the problems by extinguishing or sacrificing some. History repeats itself and sometimes, I can't help crying.
If you believe Prof. Hawking, you should think about leaving the earth and migrating to another planet so as to keep the human specie alive. I have little doubt that other living things in other planets may be hostile to us but it is inevitable that we must continue our human race elsewhere.
What will you do if you are the richest man on earth? What will you do if you are the poorest? Well, enjoy the rest of life while you can.
Friday, July 18, 2008
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment