Saturday, 6 August 2011

The US and Public Goods - The Case of IPOs

One of the most amusingly disconcerting side events of the S&P downgrade of US debt was the reaction of the Chinese dictatorship - enjoining the US Administration "to guarantee the safety" of its investments in US treasuries - these are resources that it stole from its own people and has placed "in a safe place" in case the Chinese start cutting their heads in a public square in a repeat of the Chinese revolution - this time at the expense of the Communist Party!

Essentially, the Chinese murderers want the US to tighten their belts so as to guarantee interest repayments on treausuries at "positive" rates, whilst their own export-dependent enterprises keep selling to "the consumer of first and last resort" - the US - by keeping the US dollar artificially overpriced as against the yuan and the euro and other Asian currencies.

To gauge the extent to which these miserable bastards (dictatorships current and recent from China to Germany and Japan, to South Korea, Taiwan and Singapore) - how these complete and utter worms have benefited from the "public goods" offered by the US (that is, the dollar as global currency, and treasuries as ultimate store of value), here is an enlightening piece from "voxeu.org" - which demonstrates how IPOs have declined in the US whilst they have been rising in "foreign jurisdictions" NOT because their "institutions" are superior, but..... simply because the US have been able to offer precisely those "guarantees" that the Chinese dictatorship steadfastly demands to protecit ITS OWN investments, whilst at the same time doing everything to game these "public goods" to its own advantage!! (And this is an advantage that is now posing a clear and present danger to world peace!)

Here is the voxeu.org piece. Cheers.
http://www.businessspectator.com.au/bs.nsf/Article/IPO-US-world-GDP-relative-economy-institutions-law-pd20110805-KF8K4?OpenDocument&src=sph&src=rot

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