F Dominicus Blog

A politically incorrect blog about matters of money, government, bureaucracy, freedom and sometimes something else.

Other races to the bottom

Well one might think some countries may learn from their own but also from other's countries faults. I guess I'm again very mistaken about it. As I wrote before it's obvious that the USA, Eurozone, Japan and China are racing to the bottom. One may ask why I include China the "big grower". Well very easy I say bubbles. And in China the bubble with houses are obvious. It's not yet the case that every Chinese can buy for 1000€/m² or whatever the price is. But it does not matter they have planned and build cities our in the nowhere an hardly anyone has settled there. So that's a classical malinvestement.

Last but not least Chins is a socialistic dictatorship. The PARTY is capable of nearly everything (as long as the party members are covered by their companions) I guess it would be very interesting to see how wealthy the member of the party are. I bet 1000:1 they are all much "richer" than the average Chinese worker. Every other outcome would be a big surprise

But I do not want to write about the stupidities of the developed countries. But the stupidity of socialists world wide. As you know Argentina has defaulted some 15 or so years ago. And now they start expropriating the "oil companies". Well the promises they made before the votes have cost dearly and Inflation is a serious problem to anyone living there. But hey it's not the actions to kill the market, it's the speculators stupid. Argentina has wiped our the middle class after that default. And now they want to wipe out the lower middle class also. So yes they have not learned the smallest think, neither from their own faults nor the money printing faults of other countries. So you can count in Argentina on the race to the bottom. I guess they will take the pace sooner than later.

The other stupid countries are Bolivia and Venezuela. In every country the socialists are at work and you can see it everywhere. Expropriation every where. Stealing from the people with high inflation and wiping out the small wealth the people have accumulated. So they will go down also. That's so fucking stupid and sad....