Saturday, October 10, 2009

Emerging Markets Set 13-Mo. High, +67% YTD

LONDON, Oct 9 (Reuters) - Emerging stocks hit their highest level in over a year for a fourth straight day on Friday and sovereign debt spreads traded at their tightest since August 2008, boosted by growing optimism over the global economy and an ongoing search for yield.

MP: The chart above shows that the MSCI Emerging Markets Index reached 946.3 on Friday, the highest level since August 29, 2008. On a YTD basis, the Emerging Market Index is up by 67%, and from the early March low almost 100%.


At 10/10/2009 8:17 PM, Anonymous Benny "Tell It LIke It Is Man" Cole said...

I think the world is leaving the United States behind.
The Asian economies, generally free of parasitical military establishments, excessive regulations or the endless subsidies of rural lifestyles and economies, are surging ahead. They also have excellent cultures and work ethic. They are mercantile nations as well, which is supposes to hurt them, but never seems to.
Asia is over it--the recession that is. Already.

Could we imitate the Asian fast-growth model? Would take heroic actions by both parties.
Shrink-to-fit the US military. Eliminate roughly $100 billion in rural subsidies every year. Generally deregulate whole sectors of the economy, and get rid of the homeowners mortgage interest tax deduction. Eliminate the Department of Agriculture, and HUD. Negotiate the way the Chinese do, when it comes to trade agreements. Sink the dollar.

My guess is that we would boom--but we will never do it.

That is why China will eliminate us as a world power in 20-30 years. In comparison, we will appear a typical Third World muscle state, with a strong military and a crumpled economy.

Learn to speak Chinese my friends, or move to China and find a wife. The future is there. Or Thailand.

At 10/11/2009 2:51 AM, Blogger sethstorm said...

Benny "Sold the East his Soul" Cole said:

The Asian economies, generally free of parasitical military establishments

Contradictory statement of what you say later on. Try again, without a "Pax Sinica" or "Pax Orienta" tone.

They also have excellent cultures and work ethic.

Only if you don't mind illegal coal mines with their hazards, company towns that work with the Communist government(can't have that innovative thing called dissent, y'know), and shoddy junk all over.

Asia is over it--the recession that is. Already.

For very selective values reported by an unreliable Communist Party government.

[typical insult from Third World country regarding future]

Just topple a few China-backed governments(Not the US, they aren't even close) here and there and start casting doubt. Then start unifying as many countries against them and their allies.

At 10/11/2009 6:04 AM, Blogger marketdoc said...

Before we jump on "the East Asia bandwagon," let's remember an old saying, "The grass is always greener." The "Asian growth model" is occurring in great part as a result of US consumer-driven demand. The Chinese are able to compete because they utilize child labor, pay dirt poor wages and the standard of living for most Chinese is below the poverty level. Most Chinese still do not have toilets or indoor plumbing. As far as the governments are concerned, many are involved or at least condone slavery, drug trafficking, childhood prostitution, and bribery as a way of life. It is quite common for families to sell their children into slavery and prostitution to pay their debts. Not quite my idea of utopia.

At 10/11/2009 10:31 AM, Anonymous gettingrational said...

Marketdoc, Your comments about the Chinese abusing their children by selling them or using them as slave labor is wrong. I am extremely critical of Chinese gov't trade practices with the U.S. but the Chinese people are desrve our respect. The Chinese are humble, very hard working, love their children and are very smart.

Informed criticism of China's government should be welcomed but uninformed slander against its people is not welcome.

At 10/13/2009 3:26 PM, Blogger marketdoc said...

Actually this practice is common throughout much of Southeast Asia. It is not considered slander to talk about truthful events which are happening there today.


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