Some people are totally convinced that the eurozone will collapse.
They have also therefore of course put huge sums of money on bets in order to make money if there is such a disaster.
What they don't seem to realise is that if the euro does collapse, the disaster will be so huge that any money they make will be meaningless:
The dollar will rise, but all other currencies (not only the euro) will collapse, as bets will then be made on all other "weak currencies" (that includes the currency of China because it is so heavily dependent on exports - and trade has already been practically frozen since the summer).
If the Chinese currency collapses that is basically the end of China for the moment, and therefore of all parts of Asia and Africa that are closely intertwined with it.
In turn, that will mean that all emerging markets (that's basically everything outside the USA) will collapse - possibly excluding India, which is not so heavily reliant on export but the impact on Indian exports remains to be seen if the Indian rupee comes to be seen as something to invest in as an "alternative safe haven" from the US dollar).
The Canadian dollar and Mexican Peso will probably do all right because they are so closely linked with the US, though they will suffer at least a bit because of the collapse of commodity prices including oil. That also applies to all countries whose currencies are pegged to the dollar.
That will mean the US flying high (not for any good reason, of course), but the rest of the world will be so badly hit that the US itself will be hit as all export-related jobs and companies will be hit.
Not a pretty scenario.
If you have any sense or conscience, therefore, do not bet against the euro. If that goes down, all of us go down.
Meanwhile, if the euro is properly rescued, those of us who have money there will do well out of it.
The euro is, overall, by far the more intelligent bet.
Tuesday 27 September 2011
Die widerwilligen Zeitgenossen: Ein Blick auf die Geschichte des amerikanischen Fundamentalismus
A friend draws my attention to: http://www.nzz.ch/nachrichten/kultur/aktuell/die_widerwilligen_zeitgenossen_1.12675976.html
My response: The author, Francis Müller, has interesting things to say about "Fundamentalism" but he does not seem to understand that people of faith (any faith - including atheism, rationalism, evolutionism, secularism, et al) are always, by definition, going to be appreciative as well as critical of all that is around them. Appreciate because any faith worth having must heighten our appreciation and gratefulness for all that is good.
But why critical?
For those like me, who are followers of Jesus, we are bound to be as anti-Christian as we are anti-modern. In the tradition of the prophets, we affirm what is good and seek to embrace the best, but we retain the right to reject and to resist (lovingly and peacefully) all that is wrong.
This is not because we are "anti-modern" (even "post-modernists" are "anti-modern").
This is because we try to seek for and follow Truth, not merely the truths, standards and criteria that are merely respectable or even fashionable in our age or in any age.
Best wishes
Prabhu
My response: The author, Francis Müller, has interesting things to say about "Fundamentalism" but he does not seem to understand that people of faith (any faith - including atheism, rationalism, evolutionism, secularism, et al) are always, by definition, going to be appreciative as well as critical of all that is around them. Appreciate because any faith worth having must heighten our appreciation and gratefulness for all that is good.
But why critical?
For those like me, who are followers of Jesus, we are bound to be as anti-Christian as we are anti-modern. In the tradition of the prophets, we affirm what is good and seek to embrace the best, but we retain the right to reject and to resist (lovingly and peacefully) all that is wrong.
This is not because we are "anti-modern" (even "post-modernists" are "anti-modern").
This is because we try to seek for and follow Truth, not merely the truths, standards and criteria that are merely respectable or even fashionable in our age or in any age.
Best wishes
Prabhu
Thursday 1 September 2011
Train travel in CH does have some inconveniences!
One inconvenience is very loud annuncements in the train and on train stations(there is an opposite problem in UK, which has unprofessioinally soft announcements in strange accents!) And these announcements last ages, as they must, because they have to be in three or even four languages. But the irritating thing is that the announcements cover not only the relevant announcements, about train destinations and such, but also long sales announcements from the train vendor of coffee et al
The second inconvenience is quite extraordinary: that the train network still isn't properly linked to wireless broadband yet, with the result that you can't access emails during the otherwise very pleasant train journeys here. Actually, you CAN access emails, but the connection breaks unexpected and without any announcement (!) with the result that you have to log back into the system, then into your provider, and then into your email system. Once you have done that about 3 times in the mountains, you are so fed up that you desist entirely. At least that is what has happened with me. I don't even try to get on to email.
Nor, for that matter, do I try to make 'phone calls during train journeys - for the same reason. No doubt, fellow-passengers consider that a mercy! Actually, I do too.... But it is an inconvenience nevertheless.
The second inconvenience is quite extraordinary: that the train network still isn't properly linked to wireless broadband yet, with the result that you can't access emails during the otherwise very pleasant train journeys here. Actually, you CAN access emails, but the connection breaks unexpected and without any announcement (!) with the result that you have to log back into the system, then into your provider, and then into your email system. Once you have done that about 3 times in the mountains, you are so fed up that you desist entirely. At least that is what has happened with me. I don't even try to get on to email.
Nor, for that matter, do I try to make 'phone calls during train journeys - for the same reason. No doubt, fellow-passengers consider that a mercy! Actually, I do too.... But it is an inconvenience nevertheless.
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