Wednesday, November 28, 2007

Controlling the Chinese people (and economy) "for their own good"

Where did this guy study economics? Remind me to stay away, wherever it was.

China's Economic Plan: Blame U.S.

China's control over its economy is its fundamental weakness, not a strength. It is the most important reason why the U.S. economy and free economies around the world are so much stronger than China's economy, as a general rule, independent of its immediate fortunes.

And the fact that Jim does not understand that is a very clear reason to be wary of his investment advice.

Warren Buffet, on the other hand, is dumping PetroChina stock and picking up stock in Posco, a South Korean steel manufacturer, and an economy that Buffet has noted has many "attractively priced" stocks.

You think perhaps Warren Buffet knows more about what makes for stronger investments and a stronger economy?

Yeah, me too.

Jim, your next investment, I think, needs to be in an economics refresher class.

I would start with Adam Smith and go from there.