The Discerning Texan
All that is necessary for evil to triumph, is for good men to do nothing.
-- Edmund Burke
-- Edmund Burke
Wednesday, February 28, 2007
The GOOD News about the Stock Correction UPDATED: And the not so good news
OK, sure, I lost a chunk of change yesterday just like most people. But I think dafydd is on to something here. I have read Barnett's book and have also followed the 8-week interview on Hugh Hewitt's show (download the mp3 files--well worth your time), and while in some cases I think Barnett may be overly optimistic about the nuclear threat from rogue states, there is no question that the interconnectivity between the US and China economically will "mutually assure" each other's economic destruction--were the countries to be stupid enough to go to war with each other--in a way that nuclear weapons never could.
And yes, I think this little stock correction drove that point home quite nicely.
UPDATE: Stratfor is claiming that the entire thing was engineered by the Chinese. Even if true, the unintended spread of the correction to worldwide markets does server to drive home to the meddling Chinese government the high price of interference with free markets. They are learning that they can no longer make decisions in a vaccum.
And yes, I think this little stock correction drove that point home quite nicely.
UPDATE: Stratfor is claiming that the entire thing was engineered by the Chinese. Even if true, the unintended spread of the correction to worldwide markets does server to drive home to the meddling Chinese government the high price of interference with free markets. They are learning that they can no longer make decisions in a vaccum.
Labels: China, Free Markets, US
