[Marxism] How to Tell When the Market is Topping

S. Artesian sartesian at earthlink.net
Wed Oct 21 08:25:59 MDT 2009


>From the Financial Times of 19 October:

Russian plans to raise $18bn with international bond

Russia is to launch its first international bond in a decade to bolster its 
public finances and take advantage of the surge in demand for emerging 
market debt.

Russia, which most recently, issued a bond aimed at international investors 
in 2000, last week signalled plans to raise up to $18 bn in 
dollar-denominated securities..
____________________

So first issue since 2000?  That bodes well, doesn't it?  1999 Russia ran 
its last, until this year, budget deficit.  So in 2000 it floats a bond. 
Within a year, the markets tank.  This year, Russia is running a deficit, so 
it plans to float a bond, and next year............?

One other point. Despite all the sound and fury about dumping the dollar, 
please note that this issue is denominated in dollars--not euros, yen, yuan, 
rubles, rupees, BRICs, SDRs, Virtual trading currency, bahts, bolivars, 
pesos, drachmas, ounces of gold, etc. etc. etc.

Dollars.  Dead presidents.  Mean green.  The flying eagle.

In the immortal words of Wreckless Eric:  Take the K.A.S.H. 





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