[Marxism] How to Tell When the Market is Topping
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
Russia, which most recently, issued a bond aimed at international investors
in 2000, last week signalled plans to raise up to $18 bn in
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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