Tuesday, April 14, 2009

Top 10 signs...

...your country's becoming a banana republic...

My favorite entry:
Zimbabwe–the archetypal banana republic and the home of the $100 Billion omelet–praises recent US FED action. So the FED–an institution which is only marginally comprehended by less than 10% of Americans–prints over $1.2 trillion (with a T), and Zimbabwe declares, “Banks, including those in the USA and the UK, are now not just talking of, but also actually implementing flexible and pragmatic central bank support programmes where these are deemed necessary in their national interests. That is precisely the path that we began over 4 years ago in pursuit of our own national interest and we have not wavered on that critical path despite the untold misunderstanding, vilification and demonization we have endured from across the political divide.” Not the kind of endorsement we desire to restore confidence in our financial system.

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