Monday, March 30, 2009

A Sucker is Born Every Minute

From the WSJ:

Some investors haven't quite given up the ghost of "decoupling," the notion that emerging markets can ignore recessions in developed economies. Yes, growth rates in China, India and Brazil likely will outpace those in the U.S., Europe and Japan this year. And emerging-market banks largely have avoided contagion by the West's toxic assets.

That's right -- countries that extract raw materials don't need to sell those materials to anybody who then develop then into products which are sold in the developed world. That's just a figment of my imagination.....