Category: Uncategorized

Karzai’s Flawed Legitimacy

If there’s a strategy behind Karzai’s ‘win’, it’s pretty difficult to spot!

Hamid-Karzai-after-voting-001

AFGHANISTAN: News from the Press on November 2nd revealed that British Prime Minister Gordon Brown had phoned Hamid Karzai to congratulate him on winning the recent Presidential election.

“Yes,” I hear. “He is our ally in a war and has been re-elected. Quite normal.”

Yes, but, but …. the election was very seriously flawed – indeed rigged – mostly by supporters of Karzai.

In “The Telegraph” we read: “An inquiry by a UN-backed watchdog this week confirmed staggering levels of fraud, most of it in favour of President Hamid Karzai. It declared more than one million ballots suspect – a quarter of the total cast..”

So, many in Karzai’s party CHEATED. To what extent Karzai himself orchestrated all this is unclear, but HE IS THE LEADER, and if the Leader is not overall responsible, who is? Mr Brown and the UN have also called on Mr Karzai to “end corruption”.

To summarize, A) the Karzai regime is corrupt and B) it cheated in the recent elections.

Given this, WHAT ON EARTH are we doing CONGRATULATING him? Do we usually congratulate corrupt cheats, or only when they are Presidents?

Or perhaps this is traditional, accepted “Diplospeak”?

For us, the world needs honesty, which includes above all speaking the truth. The truth is, there is NOTHING to congratulate Karzai for and so it should NOT have been done. If this is “diplomatic convention”, then CHANGE the convention in the interests of honesty.

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Sgt Olaf Schmid, British Army

We are stuck with Karzai for the moment, but if the corruption continues, then we will lose the fight; the Afghan people will simply no longer support our presence propping up a corrupt regime. But being stuck with him does not mean grovelling, or that honesty has to go out of the window. Too much is at stake.

On Sunday, November 1st, a British bomb expert was killed defusing his 65th bomb on his last mission. The truth is (that’s what we seek, isn’t it?) that we are paying a heavy price to support a corrupt cheat; many will soon start to say “too heavy a price”.

By Chris Snuggs

[PS. Interesting article in the Financial Times advocating that the US shouldn’t commit to a surge. PPS. Another 5 UK soldiers killed in Afghanistan brings this year’s total to 92.  Ed.]

Normal service interrupted!

From the 13th until the 20th September, I shall be away and maintaining two Posts a day is going to be difficult.

I trust that the Post that is published each day continues to retain your interest in the Blog.

Thanks for reading.

By Paul Handover

Jimena – Update

The end of a tough and arduous few days.

Just a quick note to say that ‘normal’ service will be resumed in the morning, local time here in Mexico.

Day 1 of Jimena
Day 1 of Jimena

Jimena struck San Carlos, where we are presently living, late afternoon on the 1st September.  Electricity was restored a couple of hours ago.  (I write these few words at 6.30 pm on Sunday, 6th.)

Jean and I are very tired!

Lots to report….

Read more about the storm

A slight change in programme!

My aim is to publish two Posts a day.

However, from today until late on Sunday, we shall be away.  So from today until Tuesday, only one Post will be appearing on the Blog automagically, as it were!

Paul H.

Making sense of (financial) markets

Financial news and reporting

If there was an award for the most intriguing corporate name Gluskin Sheff ought to be in with a chance!  What an interesting and unusual name – perhaps someone will explain the origins.

Anyway, in my quest for balance in financial reporting and predictions (a hopeless quest as many of you will be quick to point out) the name of David A. Rosenburg came to light.  He is the Chief Economist and Strategist of aforementioned firm, Gluskin Sheff.  Rosenburg caught my eye because his opinion was that inflation is years away simply because consumer demand is likely to remain depressed for a long time and without growth in consumer demand there can’t be inflationary pressures – something that is in accord with my own thoughts and financial planning strategy  (not that I am even daring to compare my own very inadequate knowledge with D.A.R.’s).

Anyway, a quick trawl around Gluskin Sheff’s website (that is such a lovely name!) found that one may subscribe to a number of free reports.

Seems like a good thing.  Thank you Gluskin Sheff! (Did I mention what a great name that is!!)

By Paul Handover

What is Truth?

A simple heading but, in truth, a very complex subject.  This was brought home by a recent article in The Economist by Bagehot.  That is “Politicians frequently lie. So does everyone else. Why all the fuss?”

Bagehot writes a Blog so those who don’t read the newspaper can read the rest of his thesis here.

By Paul Handover

Dogs and integrity … tell us your story.

Do you have a great story about your dog, or any dog, that shows that not only are they man’s best friend but that they do have integrity?

Well here’s your opportunity to share that on the Blog and with the wider world.

Just click here and tell your story via the comments link just under the title line.

By Paul Handover

Truth in Media

CNBC and Karl Denninger

Karl was a guest of CNBC’s The Kudlow Report screened last Friday evening.

Great entertainment but so little bandwidth for serious discussion about really important investment matters.

Karl then recorded a couple of YouTube videos, which must have taken some time to prepare, to show that some subjects cannot be reduced to a few minutes ‘hip’ broadcasting.

Two versions of getting to the truth of a situation.

All three vidoes can be viewed here. (In total about 30 minutes but well worth the time.)

By Paul Handover         Disclosure: Heavily invested in Long-Dated US Treasuries.

Brahma Kumaris, an update

It has been brought to my attention by a concerned reader of this Blog that there may be some aspects of the above organisation that would be unacceptable to many of you.  Whether or not this is true is besides the point.  The previous postings and the link to that organisation’s web site have been deleted.  We will find an alternative way to offer you a small distraction from the busy day.

The feedback was very much appreciated.

By Paul Handover