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Riots Erupt In Bangladesh After Stock Market Plunges 6.7%
For what may be the best look at the future of the world's most recent Banana republic entrant (the U.S.S. of A. for the confused) has to look forward to, we need to merely shift our attention at another one, which has had the privilege of experimenting with its Banana status for far longer: Bangladesh. After the stock market plunged on Sunday by 552 points or 6.72%, hundreds of angry investors took to the streets, "threw bricks at police, marched in the streets shouting slogans, and staged a sit-down protest." These very same "investors" which have and always will be better known as momo investors, which chase returns only to end up with the live grenades, "chanted slogans against the government and the regulators, and marched
through the busy roads in the Motijheel Commercial area, halting
traffic. They also staged a sit-in at the SEC building." The reason for the recent mass hysteria in chasing stocks: pretty much the same as what the Fed is trying to do right here in the US: "The rising value of the stocks in recent years has attracted hundreds
of thousands of small-scale or retail investors in Bangladesh, says the
BBC's Anbarasan Ethirajan in Dhaka. It became a popular investment for ordinary people, often providing higher returns than bank deposits and savings." Well, with the USA today posting an article with the following title on its cover page: "Experts agree: Get over your fear and get back into stocks ", and more incredulously, when one of these so-called experts is none other than David Bianco, the same utterly irresponsible creature who in October 2008 cut his 12 month S&P forecast from 1650 to 1500, well there is nothing much left to say: Bernanke has succeeded in converting America into a third-world subcontinent country.
From BBC:
The index ended the day down by 552 points or 6.72%. It has been on a rollercoaster ride in recent weeks, hitting a record high on 5 December, having climbed 80% since the start of the year.
But on 8 December it nosedived, prompting protests in Dhaka and towns elsewhere.
On Sunday, at least 500 investors hurled bricks at law enforcement officers near the Dhaka Stock Exchange and the Securities and Exchange Commission (SEC) offices, said local police chief Tofazzal Hossain according to AFP news agency.
Analysts say Sunday's index fall was triggered by a central bank interest-rate hike.
The regulators have also taken measures in recent weeks to restrict money supply into the share market after concerns that stocks were overvalued.
The move forced big institutional investors to withdraw from the market, triggering panic among individual investors.
The rising value of the stocks in recent years has attracted hundreds of thousands of small-scale or retail investors in Bangladesh, says the BBC's Anbarasan Ethirajan in Dhaka.
The rising value of the stocks in recent years has attracted hundreds of thousands of small-scale or retail investors in Bangladesh, says the BBC's Anbarasan Ethirajan in Dhaka.
It became a popular investment for ordinary people, often providing higher returns than bank deposits and savings.
Regulators have now agreed to relax some of the conditions, hoping that will increase the money supply and stabilise the market, he says.
And yes, ladies and gents, all this is coming to a very cornered Chairmen close to you, who now faces the biggest dilemma of his pathetic career: let monetary policy be loose in perpetuity, bringing the price of oil to triple then quadruple digits (and so on) shortly thereafter, or tighten, watch the stock market plummet, and destroy his much desired, and even more imaginary, wealth effect.
h/t Jeroen
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waddell & reed
I was having a fairly nice dinner in a Deep South college town this weekend. When the receipt came back for me to sign, the pen the restaurant had given me was from Waddell and Reed. Took me a few minutes to explain to the table why I started laughing hysterically.
THEY ARE EVERYWHERE!!!!
Rupeee!...LOL.
THERE ARE GLOBAL MEASURES TO REGULATE THE INTERNET!!!!! WHERE IS THE OUTRAGE????!!!!!!!!! W-A-K-E. U-P. MY FRIENDS!!!!!!! WHERE ARE YOU??????!!!!!!!!!!!!!! http://techdailydose.nationaljournal.com/2010/12/exclusive-fccs-dems-narrowing.php ,
http://thehill.com/blogs/hillicon-valley/technology/134327-democrats-go-public-in-pressuring-fcc-commissioner-on-net-neutrality ,
http://online.wsj.com/article/SB10001424052
Will this cross the border into India also?
You sustained eight minutes, at most, of reading and thought on the matter before firing out this question. What the f are you doing here? Seriously.
Try critical thinking on for size. Form your own thoughts. Use article content in concert with critical thoughts until you have a point...and post that. And then....maybe then...ask your stupid question.
This site is so polluted tonight...like Iphone 4 zombies everywhere ...barely able to contain even one cogent thought. But I know...I know...its about the cut and paste and pushing things over the edge and such.
Good grief.
Uhhh, what? That is a valid question. Bangladesh isn't a very big market, but if this spread to India, it would a big deal.
OK...will stocks go up?
No, it's not. Well, you could also ask "Will it spread to Chile?" - it's gramatically valid.
Then explain why it isn't. Don't just tell someone not to ask questions. That is anti-intellectualism and is one of the things that has lead us down the path of Keynesiansm (ie blindly deferring to "smart" people without asking questions).
Agreed. One big fatal flaw of ZH is nobody gives a shit about answering questions at all. I don't even know why they have the "student forum." You're probably better off putting your question in a bottle and throwing it into the ocean.
Yep. I've been here well over a year. I love this place and the people in it. I am, however, as I have said before, not the sharpest knife in the global economic drawer. I'm just a math teacher, inventor, a general shmoe... So I come here to get information, shake it down, and learn.
I have been disappointed in the past when people have disregarded my questions about issues I don't understand. I know this isn't school. And I have no right to expect to be taught. But if I understand the mission of this site clearly, it is to inform people of the truth about what's going on in economies the world 'round. Part of that information should involve explanation. TD is mighty busy, and I don't expect him to drop what he's doing and answer every question a dolt like me might have to ask. But I feel that if we're all about the same thing, then a little patience with those of us who DON'T make a living in the financial services industries would be an overall good thing for EVERYBODY.
My last question that was never answered: To FauxNews: isn't your overall theory of economics sort of like saying an electric fan in the stern of your sailboat will make it go?
Sorry for the tirade. I feel like I've been here long enough to be allowed one every once in a while.
Oh. And I junked CDad mostly just for being an asshole.
are you a dull knife or a tomato? Since i am not FAUX news i cannot answer you but to acknowledge your presence. Hi!
You are correct in having that concern. The world's biggest stockmarkets are in United States, UK, Japan, India, China, Canada, Germany, France, South Korea and Holland... emphasis being in the same order. The rank bears a direct correlation to the corruption inherent in the system in $$ terms.
Mos, do Indians have their heads in the clouds, their hands in other peoples pockets and their feet in shit?
whoa... didn't realize you were the judge dredd of zh. lol
Polluted tonight with your unnecessary rants at ppl.
Written from my iPhone...
+1
...from Hong Kong.
from a swamp in Fla.
Many people here are on edge, and it's understandable. I think nearly everybody here is waiting for the farce to unravel since october 2008, and is tired of the unlimited postponing by central banks. Especially those, for example, who need to purchase real estate and are waiting.
+2012 : )
It's hard for sane people to remain so in an insane world. We've all been psychically damaged.
By postponing the inevitable, the central banks have increased the levy of extermination. When they give up the fight, likely because they do not have any bullets left, the crash will wipe out all wealth on Earth and cause irremediable damage on the population.
all depending of course on how one defines the word "wealth"
Your on a roll ;-)
It's already 'wiped out', they just don't know it yet. It's 100% illusory..........
Kali, why would a sane person not like to be in-sane? In-sanity. I think we need a little re-languaging here, eh?
Are you outsane? Or what?
And as for poor ole bananagladesh, it's just another vassal state. And this little hot money outflow driven crash is just another little test. Will it jump to India? Not yet, But when the time comes, very easy to crash the Indian market.
India's stock market is propped on two things. No three things.
1) Hot money, "foreign" money, skittish money, massive amounts of it.
2) Insider trading, rampant fixing, deep corruption
3) Rumors and sentiment
Fundamentals? That is a joke. Because there are none.
On a related-ish note, I saw with great sadness that the Great Indian Shopping Mania still has a long way to run, all downhill and no brakes.
Crap is still expensive here. As we have seen in the Great US Shopping Mania example, retailers can cut the price of crap to the bone and still make money.
So, retailers are raking it in. Retail therapy at a national level.
In short (or long), this is a not-going-to-end-well story.
Over and out.
ORI
http://aadivaahan.wordpress.com
+2012+ infinity....In this world, it doesn't matter if your focus is on economics, ecology, geo-politics, climate change, or what have you: having clear thoughts about any or all of these subjects tends to affect you in crazy ways....
Why purchase RE? Just find an empty house (there are plenty) and move in.
Cdad - Excuse me, who made you the arbiter of posting correctness here? The poster asked what appears to be a perfectly valid question, which may have started an interesting and lively discussion in which you might have offered your opinion, if you had any. You might have learned something to your advantage. But no, any discussion died aborning with this rude and unwarranted personal attack. I saw you do this on another string today, so what the hell is up with you? If you find us boring and unworthy of your time, don't t let the doorknob hit you in the butt. This might be fight club, but if you pick a fight, do yourself and your opponent the honor of treating him with respect so that the same courtesy might be applied to you.
To Cdad - Your alarmingly inappropriate attack on someone asking a perfectly valid question makes me fear for your mental state. I presume you must already be on medication but I suggest you ask your psychiatrist to up the dose.
this week might not be so sleepy after all...
aand so much "change"! And more to come. Epic shit coming our way, can you feel it?
China is watching this closely methinks. They fear instability and such demonstrationns most of all.
But it really doesn't take much for people in Bangladesh to get riled up, does it? They'd have pitchforks if they could afford them.
The Bernank: "yes, we have no bananas"
China REALLY doesn't like multiple instabilities nearby. Bangladesh, the Korean thing with Russia asking South Korea to stand down for a bit, Tibet always an issue - though tiny in an economic context, and internal irritations as recently conferred degree recipients are mostly discovering it hasn't advanced their careers or economic standing - that on top of the empty cities.
All is not well in most places.
China is a paper dragon. You can draw a nice fire breathing dragon in full technicolor with crayons. The guilty party (USA) sees this dragon as it sees fit. DELUSIONAL. Don't fear the paper dragon, fear problems within.
Was wondering when this would show up here. Quiet week? I am thinking not so much. See silver spiked up $.20 too, gold to 1384. Hmmm. Heard Israeli market did same. Tried to access info but couldn't seem to get through.
Interesting to see the difference in reaction the Bangladesh have as compared to USans when stock market crashes.
Hilarious.
Unfortunately, Joe Six here in the U.S. is not invested in stocks outside of his IRA and 401(k) account, and could really care less about stocks.
They are much more interested in sports wagering, now a $250 billion a year business with wide public participation.
Any wonder why NFL, NBA, BCS viewership and ratings are going exponential, while CNBC ratings are near the worst ever?
Oh, by the way, I still vividly remember the Argentina Meltdown in 2001. In case you guys forgot the "empty ATM's"...
http://www.pbs.org/wnet/wideangle/episodes/the-empty-atm/video-full-episode/670/
Well, ever since then, the Merval has skied by 14 times off the 250
lows recorded in 2001, and the 2008 credit market meltdown shows up as a minor, brief
correction. And now the Merval trades at world record highs.
Bangladesh will be no different.
you know what the real inflation rate is in Argentina you kool aid monger?
and stick to lying about gold OK?
Hum, yes, that shocked me as well.
Robot make usually smart remarks, but it's strange to ignore the fact that in relative terms, the Merval is still near its historic lows.
Inflation has been slowing in Argentina during the past three years, but it's still near 20% a year.
That is exactly what he is implying... The fundies are dog-shit, but woe be to any one short the market....
Even being long Merval, you'd have to use a big leverage to beat the inflation.
I ain't sayin' being long is a winner, but being short is commiting seppuka
+100
Why don't you post a few bearish charts once in awhile? Try C, AIG, BSX, VZ, MOT, FNMA.OB, FMCC.OB... Not to mention the dead ENE, LEH, WCOM, BSC...
I get tired of NFLX and crAAPL and every other pos you post. Balance, try for balance for once.
Dont look at me.... My Dec 18 Netflix 210-200 put spread was just closed out. Paid for christmas :)
Sweet! Loved the close Friday. heh heh
In case any one thinks I'm bullshiting, here is my saturday log.
GDX 5 contracts 52-57 call spread
GLD 10 contracts 108-115 call spread
GRS 20 contracts 10 call (cost me $200)
NFLX 5 contracts 200-210 put spread
SLW 20 contracts 17-26 call spread
12/17/2010 YOU SOLD ASSIGNED CALLS AS OF 12-17-10 GDX MARKET VECTORS ETF TR GOLD MINERS ETF FD Margin Shares: -1,000.000 Price: $57.00 Amount: $56,991.08 Comm: $7.95 Fees: $0.97 Settlement Date: 12/22/2010 12/17/2010 YOU BOUGHT EXERCISED CALLS AS OF 12-17-10 GDX MARKET VECTORS ETF TR GOLD MINERS ETF FD Margin Shares: +1,000.000 Price: $52.00 Amount: -$52,007.95 Comm: $7.95 Settlement Date: 12/22/2010 12/17/2010 EXERCISED -GDX101218
C52 CALL (GDX) MARKET VECTORS ETF DEC 18 10 $52 (100 SHS) Margin Contracts: -10.000 12/17/2010 ASSIGNED -GDX
101218
C57 CALL (GDX) MARKET VECTORS ETF DEC 18 10 $57 (100 SHS) Margin Contracts: +10.000 12/17/2010 YOU SOLD ASSIGNED CALLS AS OF 12-17-10 GLD SPDR GOLD TR GOLD SHS Margin Shares: -1,000.000 Price: $115.00 Amount: $114,990.10 Comm: $7.95 Fees: $1.95 Settlement Date: 12/22/2010 12/17/2010 YOU BOUGHT EXERCISED CALLS AS OF 12-17-10 GLD SPDR GOLD TR GOLD SHS Margin Shares: +1,000.000 Price: $108.00 Amount: -$108,007.95 Comm: $7.95 Settlement Date: 12/22/2010 12/17/2010 EXERCISED -GLD
101218
C108 CALL (GLD) SPDR GOLD TR GOLD DEC 18 10 $108 (100 SHS) Margin Contracts: -10.000 12/17/2010 ASSIGNED -GLD
101218
C115 CALL (GLD) SPDR GOLD TR GOLD DEC 18 10 $115 (100 SHS) Margin Contracts: +10.000 12/17/2010 EXPIRED -GRS
101218
C10 CALL (GRS) GAMMON GOLD INC COM DEC 18 10 $10 (100 SHS) Margin Contracts: -20.000 12/17/2010 YOU SOLD EXERCISED PUTS AS OF 12-17-10 NFLX NETFLIX COM INC COM Margin Shares: -500.000 Price: $210.00 Amount: $104,990.27 Comm: $7.95 Fees: $1.78 Settlement Date: 12/22/2010 12/17/2010 YOU BOUGHT ASSIGNED PUTS AS OF 12-17-10 NFLX NETFLIX COM INC COM Margin Shares: +500.000 Price: $200.00 Amount: -$100,007.95 Comm: $7.95 Settlement Date: 12/22/2010 12/17/2010 ASSIGNED -NFLX
101218
P200 PUT (NFLX) NETFLIX COM INC DEC 18 10 $200 (100 SHS) Margin Contracts: +5.000 12/17/2010 EXERCISED -NFLX
101218
P210 PUT (NFLX) NETFLIX COM INC DEC 18 10 $210 (100 SHS) Margin Contracts: -5.000 12/17/2010 YOU SOLD ASSIGNED CALLS AS OF 12-17-10 SLW SILVER WHEATON CORPORATION COM NPV ISIN Margin Shares: -2,000.000 Price: $26.00 Amount: $51,991.17 Comm: $7.95 Fees: $0.88 Settlement Date: 12/22/2010 12/17/2010 YOU BOUGHT EXERCISED CALLS AS OF 12-17-10 SLW SILVER WHEATON CORPORATION COM NPV ISIN Margin Shares: +2,000.000 Price: $17.00 Amount: -$34,007.95 Comm: $7.95 Settlement Date: 12/22/2010 12/17/2010 EXERCISED -SLW
101218
C17 CALL (SLW) SILVER WHEATON DEC 18 10 $17 (100 SHS) Margin Contracts: -20.000 12/17/2010 ASSIGNED -SLW
101218
C26 CALL (SLW) SILVER WHEATON DEC 18 10 $26 (100 SHS)
yoga tip for robo: between every inhale & exhale, there is a pause. work on becoming conscious of that pause. once you are conscious of that pause, start working on lengthening that pause. feel free to report back with what you find there.
Buy the top!...I mean the dip!...LOL.
and here i am thinking they didn't have any green shoots in bangladesh...
Same thing they are going to pull here now that they have managed to bring some confidence back... Only difference is when they pull the plug on Americans, they will be too stupid to put up a fuss. They will blame it on some political party or Europe and the White Collar Gang will disappear into the night with the loot once again.
If only we could find a way for big oil to make some bucks off geothermal...
"hitting a record high on 5 December, having climbed 80% since the start of the year"
WTF are they complaining about?
These are people who got in during the first week of December :-)
That was my question as well.
"Analysts say Sunday's index fall was triggered by a central bank interest-rate hike."
You don't say....
Mr. "BofA Merrill" Bianco certainly is an intrepid stock jobber -- his knucklebone-divining for "2011" is also featured in this weekend's issue of Barron's.
At least those investors aren't docile.
6.7% in a day? Pah, what did U.S. investors do when the DOW lost nearly 10% in 10 minutes in May? That's right, nothing. Just took it up the wrong 'en like good placid sheeple. All is well, your government is in control.
What happened to you people of America? You used to be cool, or was i just romanticising your potential greatness...? Oh well, all too late now, the future of the U.S. has been well and truly flushed down the toilet.
I love when they dig up old articles written by clueless weasels......he he, as long as nobody posts my past writings ...or Robot's for that matter
I remember seeing on television news, a angry investor walking behind his stock broker, I think somewhere in Florida , after black Monday, in 1987, with a double barreled shotgun aimed at the stock broker's head with the hammers cocked. I always wondered what happened to those men.
We had the drop in 2008, and not a whimper was heard from the sheep as they got shorn.
Well, one can't say they weren't warned (scroll down - Important News from SEC)
http://www.bdstock.com/todaysnews.php#DhakaNews
Yeah, shake yer bootie.
Anyone else notice how forecast is spelled on their logo upper left? Is this a colour zed sort a' anglo thing?
Would never happen in the US any more... now everyone apart from GS, JPM and the Fed (and a few minor insigificant minions thinking they can short) are the only ones left and all they do is hot potatoes to each other all day long all week long with no one else in the way. That way they can pretend all is rosy because they can point to the stock market being a "leading indicator" so all must be well ..... get rid of the sheeple out of the market and they can control to extremes now.
They are getting so blatant that they time the close to virtually the round number to see how close they can 'fly the craft to a perfect landing'
What's the matter with those people? Buy the fucking dip.
They have a stock market?!? I thought the only thing they had was WAY too many people! Broccoli Man really needs to go there and teach them a thing or two about buying on the fucking dips!
In any event, I'm sure this is bullish for gold plated tungsten!
Exactly. Dont' they know that a Ponzi is only so good as long as there is only buying, buying, buying?
DFT, that was my very first thought ;)
Exactly. Bring up your own tickers for the best performing Bangladeshi listed, growth stocks. DYOR:
Dhaka Health & Hygiene Conglomerated
The Chittagong Insect Repellent Group
The Black & White Television & Transistor Company
Dead Body Railway Clearances
The Clothespeg Shop
Specialty Whitening Creams Inc.
Robo, you want throw up a few charts?
LOL
Good one. It is always interesting to see what sets off people in different countries.
Soccer fans being killed enrages Russians.
Berlusconi enrages Italians.
Tuition hikes enrage Britain's student population!
Or... The system is reaching the end of its useful life, and all these are just symptoms of that terminal disease.
http://psychonews.site90.net
PsychoNews: Exposing the Oligarchy, one Psycho at a time.
oh... Rambutan fruit down 15% shoot me.
Curry and rice byatches!
I didn't know Bangladesh had a stock market. What do they sell on it? Shares of slave labor camps?
Derivatives and American MBS.
Think we could riot,and burn tires, because the interest rates a .0000006% on IRA's n CD's?.
The last time I heard about Bangladesh, George Harrison was singing ...
http://www.youtube.com/watch?v=jZZ96J_PVbk
When TSHTF here in Uncle Sambo Land, just go online to find the top 20 bankstas, & companions, of the top 20 crooked banks,(or more if you want), and just Google their address, then click on Google Maps, and voila! You know where to "piece-fully" settle in. MF'.s.................
Lists have been made and distributed.
Gotta make all your shit lists now, before they shut down the internet.
"He's making a list, checking it twice, gonna find out who's naughty and nice..."
Bricks is what they trade. Lots of bricks.
http://www.youtube.com/watch?v=lV-iP1jSMlI
no fuckin' waaayy. Man, I seen some things in my time, but.......
Any of you guys ever watch the late night tickers on CNBC World or Bloomberg?
Sheesh, many of those Indian and Korean stocks go up or down 7% - 12% in one day on a normal day.
A 6.5% drop in one day on the entire index in some third world country is not that uncommon.
That was my thought as well.. I don't understand why a 6.5% drop would spark riots, this past year a lot of markets have had daily dips that big.
Every night including right now. Much more informative and entertaining.
the voice of the demons that only ben can hear is, softly - almost a whisper...."the seduction is complete...you are, dismissed"...................................
The government responded by commandeering their retirement funds and placing them in "safe" investments such as 30-year Treasury bonds. Oh. Oops. That's the plan for after the next stock market flash crash in the USSA.
It always makes me laugh to see 140 of them riding on top of a packed bus, wearing cheap dress shirts.
The Futures and the DXY are both up.Now kids, Lets talk about something important. Why dont they ever show the 1951 version of A Christmas Carol with Alistair Sim on TV anymore? I find this very frustrating . Also,why isnt ABC showing the original 1994 The Santa clause? Im not crazy about The Santa Clause 2..
That's so strange, I thought stocks only go up ?
http://www.cnbc.com/id/23522110/
BTFD? Is this CITI recommendation similar to sticking your dick in "the dip" and see if it comes back out? Will it blend?
http://www.youtube.com/watch?v=Mf_yF90JSgY
LOL.
Its up 80% on the year (!) and you guys bitch and moan and theorize 'why' a 6% drop in one day (based on an interest rate hike, hello) is the end of the world for Bangladesh. Rates up = stocks down.
buy the fucking dip...slave labor is the new skilled workforce
coming soon: concert for bangledesh II (brought to you by eTrade)
http://www.youtube.com/watch?v=T7qpfGVUd8c
USA bananas: The big con infests America -- very instructive real price histories are kept little-apparent:
http://homepage.mac.com/ttsmyf/RHandRD.html
NO: "The public's right to know"
YES: "Fool 'em if you can"
dips, bitchez!
So we think Bangladesh is bad, check out the next ponzi and multiple-times banana to fall from the tree - Indonesia. So what are the signs the plunge in Asia is imminent? Technicians who look for divergences would find plenty on the JKSE chart. But more ominous, the US private equity firm TPG (who lost a cool $1b in Wamu's collapse) is buying a minority stake in a listed coal services company owned by a former-Suharto crony (the Widjaya family), owners of Asia Pulp and Paper, a firm which Oaktree's Howard Marks would no doubt have "fond" memories of. When Indonesian tycoons like the Widjayas sell businesses in Indonesia, that is the sign to get out. No wonder TPG are glad to find soveriegn welath funds like CIC of China and GIC of Singapore to share the risks :) Even then, how these inocent money can justify investing after the company's shares have risen from 30Rp to 1500Rp over 5 years, even in a commodity like coal, I have no clue!
what??? tell them to BUY THE FUCKING DIP!!!!
lolz
i can't stop laughing. BTFD!!!
http://www.usatoday.com/money/perfi/stocks/2010-12-16-usa-today-investme...
"Experts agree: Get over your fear and get back into stocks"
Pump and dump...isn't that what you do with whores?
This about sums this scam up !
Forget about savings and invest in the stock market
I cant make this shit up !!
http://www.telegraph.co.uk/finance/personalfinance/investing/8202251/Investors-told-forget-savings-accounts-think-of-shares.html
Asian markets getting crushed.
http://www.sgxniftydowfutureslive.com/index_files/DOWFUTURES.htm
U.S. market should be worth 100+ positive in the am.
yeah - I looked at that 1st link to the telegraph: beauty! love that last paragraph: "But if you put that [GBP] into a good, high-yielding fund...." HA. Is he gonna show all the savers the "good" funds [based on past performance]? Go, you Brits!
Really? Thats not boiling frogs gradually thats gonna be like setting them out on the cutting board and mutilating them with a claw hammer. One could only hope that the author of the article does not become infamous and is later caught driving though a riot to a show of some sort. Perhaps the play: Death of a Salesman.
Oh my God...This is madness, on a global scale. This will end so horribly...it's hard to imagine how the West will survive this calamity.
Regarding Bangladesh "spreading to India", I believe the definitive word, or at least a more educated opinion, will come when ORI wakes up and posts. Bangladesh is a long way, both physically and culturally, from southwestern India where Mumbai and the Indian Stock Exchange sit. Pakistan is closer and of more concern, more closely watched, etc. Bangladesh, god's testing ground for natural disasters and ferry capacity, is still largely at the textile stage of development, employing hundreds of thousands in factories producing garments for Asian, European and American clothing companies. In other words, much is export oriented. India, also still developing, has a massive IT and software industry, automotive, pharmaceutical and telecom---much of which are aimed at the domestic market and slightly more immune to the European and American economic slowdowns.
Having spent a wonderful weekend visiting an extremely crowded Taj Mahal (95%+ domestic visitors), anecdotally India looks pretty good and unlikely to be moved by what is happening in majority Moslem Bangladesh. Flipping through the local news channels, India seems far more concerned at the moment with Wikileaks revelations and a few purely domestic scandals. I saw nothing of the Bagladeshi riots.
Again, when ORI wakes up and accesses ZH, we should get a more expert view.
wonder if main street knows about our little consecutive weeks of mutual fund out flows. hahaaha
Doesn't that bonfire contribute to global warming?
double post
"world's most recent Banana republic entrant (the U.S.S. of A. for the confused)"
More like The United States of Isr@el (U.S.I.) for the confused.
It's deja vu all over again. Wall Street, here we come!
It is a little surprising to find that Bangladesh even has a stock market...but I guess our global Banksters want to ensure that everyone is on on the scam, even people who, to a bit of actual fanfare (locally, at any rate) just started making $750 a year per capita.
Of course, it woulld be cool if all the Wall Street types did do this after our inevitible crash - make it easier to tar and feather them (wouldn't have to chase them around and listen to their tears as we hauled them away from mahogany shrines).
Buya buya tha dippa dippa!!
http://www.bangladesh.com/translation/
or so..
Ahhhh, that picture sort of sums it up doesn't it, paper burning, says it all.
Silver for the people!!!
http://www.youtube.com/user/BrotherJohnF?feature=mhum