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May 14, 2008


Ken Houghton

ROTFLMAO (as I watch pension assets lose 5% a quarter).


Indian response to Bush's latest gaffe regarding high food prices:



No. And that's because, although he was head of the IMF, he wasn't running it.


His first term as president of Germany ends soon, and in case he wants to be reelected he will need the votes of the Socialdemocrats (given that he is a Christian democrat their votes are relatively secure). Given that the Socialdemocrats run a populist campaign blaming financial markets and investors for job losses etc., well I guess you can figure the rest...


I agree with Chris, it's more of a populist thing in Germany right now to blame everything on managers.
Won't be long before it turns out it was actually some guys at Deutsche Bank and Siemens who started WWII...

Germans are big on envy.


it's interesting that Prof Rodrik was much more ... understanding of the change of heart (and perspective) of his colleague, Larry Summers, who also held positions of power in the global financial establishment.

It is also noteworthy that the last couple years, with the last increases in the per capita income of China and India, should be fairly easy examples of the benefits of globalization (ie, we can count millions and millions of winners, no?). Yet, now, with the weakness in the US economy, is the time when the benefits of globalzation start to be more widely doubted.

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