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"The problem with socialism is you eventually run out of other people's money" - Margaret Thatcher "The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design" - F.A. Hayek
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"We have a chance to avoid banking, forex or debt crisis and go through today's difficulties without losing the potential we have created”, said Russian President Medvedev just days ago. In early June he blamed the US and its banks for the economic crisis as economic egoism.
Hey wait a minute, not so fast Mr. Medvdev: the Kremlin has observed a deterioration of its market by approximately 75%, particularly because of your unwarranted aggression policies toward Georgia. Last time I checked, something like that in our economy would be considered an economic meltdown. In addition you may be in for a surprise; with falling oil prices and your eroding international investment, with the latter due to your unattractive policies which seem cavalier and calculated, how will you maintain your inertia to strengthen your new Russian world order? It seems that economic egoism finds its presence elsewhere.
"Schadenfreude" (a German word meaning happiness at another's misery) and a litte old fashioned Karma have a way of coming around 360 degrees. See my posting on "Randy Parker Hall of Fame: Ralph" on 10/24/08.
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