It is warm in New York.
Expecting a typical mid-December, I donned my felt hat and overcoat. But alas, it was nearly 60° today. Oddly, most wore similar attire all day.
Perhaps they wanted it to be cold. The financial markets are certainly overheated.
I am more than a little concerned about the air nowadays. The air I’m referring to is the lack of protest about the upcoming nationalization movement.
You may already know president-elect Obama appeared on Tom Brokaw’s “Meeting the Press” last Sunday. Although he danced around quite a bit, he described the long-term government oversight to be coupled to the upcoming bailout of the auto industry. It could mean government mandates on what kinds of cars are created, what prices are charged and what vendors are used. He told Tom to goal would be to create an industry that “actually works, actually functions.” This sounds a lot like nationalization to me. Point is, no one seems to mind. People remain shell-shocked from the financial mess—and they’ve left the door open for government intervention.
I spent today at the ProInversion Invest in Peru forum. This event is part of the current APEC series of meetings here in Lima.
The sessions consisted of a main tent with a series of speakers about investing in various segments of Peru and a “Peru Showroom” with booths from all of Peru’s regions.
I have written recently about continuously analyzing your situations. To me the most important thing is to not believe anything without personally checking it out. Case in point is the current economic mess we are all paying for. There are two keys here. First, what is the “real situation” and second, how does it effect you.?
As for the former, realize that the economic collapse is global. The summit being held by president Bush this weekend puts a light on that. The headlines blare about congressional bailouts of Detroit, but its woes are nothing compared to Swedish Volvo for example. Last year, 2007, Volvo sold 140,000 heavy trucks that are employed to pull semi-trailers. As of November 1 of this year, 2008, Volvo has sold less than 2,000, a sales collapse of over 98%.
I just returned from a mini vacation at the Wild Horse Pass Resort in Chandler, Arizona. What a great place to have a truly great time with my wife.
The resort owners are the Gila River Indian Communities. The tribe is the Akimel O’otham now known as the Pima. They developed the resort, the Whirlwind Golf Club, and Gila River Casinos among others, including a 5 star restaurant called the Kai and the Firebird International Raceway. All splendid, first class enterprises.
