Thursday, December 08, 2011
Not all dark
At the end of last night's entry I said "Goldman is the universe."
Well, it's not quite that bad. There are major parts of the world where Goldman doesn't rule, big areas that will survive as the West drowns in bets and debts.
China, Korea and Japan are smart enough to reject all foreigners, and to reject foreign influence unless it serves their own purposes. They will survive.
Turkey and the new Arab countries have a chance to survive, but it's not certain. They haven't been infected by the Western auto-immune disorder. They have no problem with rejecting Goldman-type foreign influences, but Turkey may depend too much on EU to have the necessary strength. If they can quickly implement the Islamic economic system, they will be immune. Islamic economics forbids all gambling, which includes 'abstract' derivatives; and strictly forbids bailouts. If a risk-taking investor wants to gain, he has to take the loss as well.
Well, it's not quite that bad. There are major parts of the world where Goldman doesn't rule, big areas that will survive as the West drowns in bets and debts.
China, Korea and Japan are smart enough to reject all foreigners, and to reject foreign influence unless it serves their own purposes. They will survive.
Turkey and the new Arab countries have a chance to survive, but it's not certain. They haven't been infected by the Western auto-immune disorder. They have no problem with rejecting Goldman-type foreign influences, but Turkey may depend too much on EU to have the necessary strength. If they can quickly implement the Islamic economic system, they will be immune. Islamic economics forbids all gambling, which includes 'abstract' derivatives; and strictly forbids bailouts. If a risk-taking investor wants to gain, he has to take the loss as well.
Labels: Natural law = Sharia law
¶ 3:50 AM
