Monday, October 27, 2008 0 comments ++[ CLICK TO COMMENT ]++

A Sign Of New Entrants To The Global Capitalist System

Eureka! We have further signs of new entrants into the capitalist system. It's always a good sign. First step is to participate in the capital markets. The next step is to learn that the free market does not mean that everything only goes up. Unfortunately many are tripped up after the first step:

But in Kuwait, the government has taken a less hands-on approach, angering investors who sued without success to temporarily close the bourse.

On Sunday, traders walked off the floor of the bourse for the second time in less than a week.

Investor al-Fadhli said about 40 brokers left the exchange, walking to the nearby seaside Seif Palace, calling on the prime minister for more government intervention.

Yes folks, as unlikely as it may seem, some investors are suing to close the exchange. I presume the strategy here entails burying your head in the sand, literally, and happily pretending that asset prices have not declined. And you thought the Americans started a bad trend, now blindly duplicated by several other countries, of banning short-selling of some stocks. I'm pretty confident that investors in America are unlikely to pursue to the Kuwaiti strategy simply due to a lack of sand ;)


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