Sunday, October 30, 2005

How To Fix an Ailing Stock Market? Hang the Speculators, says Iran's Ahmadinejad

Hey, it's a new idea at least. Capital flight from the most perfect, most pure Islamic state? Say it isn't so! Mahmoud sure is a forward thinker, isn't he. Maybe the whole goddamn outhouse will fall in on itself and lessen the threat. Now the Iraq stock market is not that large since the government owns much of the economy, or should I say the mullahs.

On another site, it was noted that 60% of Iran's government revenue in oil sales is about 45 billion. Anyway, I did some calcs and the total revenue is 75 billion. This is how much money the government has to spend without running a deficit and needing international loans. Let's be conservative and say the total GNP revenue is $100 billion. If the population is 70 million, that is ONLY $1429 per capita. That is nothing for a welfare state, which is what all these Islamic states that have oil are. Those without oil are complete basketcases with zero welfare.

Iran’s President says “2 or 3 hangings” could end market woes Sun. 30 Oct 2005

Iran Focus news should be a bookmark in your Iran folder.

Iran Focus

Tehran, Oct. 30 – Iran’s hard-line President Mahmoud Ahmadinejad told the latest cabinet meeting in the Iranian capital that “if we were permitted to hang two or three persons, the problems with the stock exchange would be solved for ever”, according to a Tehran-based newspaper.

Ahmadinejad was addressing a cabinet meeting held to discuss the rapidly deteriorating situation at the Tehran Stock Exchange, the daily Ruznet reported on Sunday.

Ministers and experts disagreed with all the different views and proposals raised at the meeting, which came to an end without any concrete results. Tempers flew high and participants shouted at each other during the discussion, according to the daily. Frustrated with the inability of his economic advisers and experts to come up with any solution, Ahmadinejad told them that the only way out of the current stock exchange and financial market problems was to “frighten” speculators by hanging two or three of them.

Iran’s ultra-Islamist President first sent jitters through the country’s markets when he said on the eve of the presidential elections in June that “stock exchange activities are a kind of gambling and we are against them”. Gambling is banned in Islam.

Nervous investors have been transferring their capital to other countries, and Dubai has benefited palpably from the flight of capital from Iran. The Tehran Stock Exchange has lost 20 percent of its value in the past four months.

“At the moment there are no buyers in this market, only sellers”, the newspaper Ruznet wrote. “Economists believe the situation is becoming more difficult to handle day by day”.

Incendiary statements by Mahmoud Ahmadinejad and other top Iranian officials have contributed to the creation of an atmosphere of uncertainty and instability in the country’s financial markets, according to analysts.

5 comments:

dag said...

This idea of hanging a few people to make examples for the others is, if one reads the history, the same path followed by Lenin, who urged that because one man stole wood from a fence to make a fire in his flat he should be killed, a petty crime but one that when repeated by millions would destroy the entire nation. Yes, the sensible alternative would have been to bring in cola for heaters, but how much easier to simply hang a few people and let the others freeze to death quietly. And with bureaucrat, not quite up to the revolutionary zeal required by the party, well, hang one, shoot a few others, and imprision other to get the flow going again, said Lenin, for otherwise one will have a government filled with "careerists."

Fine while it lasted, Lenin's moderate terror, but followed then by Stalin, the situation became vivid, millions dying yearly for the greater example of perfection in the making. And so it is with Amadhinejed. A few hanged here and there, and then a few moreee, and then a train load of kulaks, and then some economic wreckers and some counter-revolutionaries, and eventually all will be dead.

Yes, folks, history, playing first as tragedy and the next time as farce, repeats itself.

Will our populations support armed intervention against the Iranian nation? Only if they begin to grasp the nature of the problem that is not ours but the problem of primitivism itself, a thing that must be crushed to death by main force.

It requires a major change in attitude, and the arms will follow, peace coming right behind.

Cubed © said...

We must teach our kids economics, both capitalist and collectivist, all the while emphasizing the moral differences between the two.

Our kids--hence our future--are being drenched with collectivist attitudes and feelings about capitalism with no facts at all. Capitalists are mean-spirited, petty, greedy, nasty people, and capitalism is always in the way of "social justice."

Our failure to teach our kids about Capitalism (which is a social system, not just an economic system) is quite possibly the most successful single accomplishment of the Postmodernists--the Communists, the Fascists, the Nazis, the socialists, the Left, the Liberals, and all other forms of collectivism.

Because it is a complete social system, and because it has more or less characterized the U.S., once a child has been convinced that it is evil and mean, it's very easy to go from "capitalism is wrong" to "the United States is wrong."

I'm so mad about this issue I could chew nails and spit rust! It just isn't that hard a thing to do outside the One World environment of our government-run system; a good system of private pro-capitalist schools could do the trick.

Wish I were thirty years younger!

dag said...

We here at the Fortress were discussing last night the origins of the stock market: that during the early years of the spice trade, if ones ship sank, end of venture for permanent. So, what did smart people do? They went into joint ventures. I'll cover half the cost of yours, you cover half the cost of mine, and if one ship sinks and the other returns, we both laugh together on the way to the bank. Somehow I failed to get any information about hanging anyone to make it more successful. That practice seems to have come along with those who think capitalism is evil.

You want to see evil? I put up seven-- count 'em-- seven posts on the origins of modern agriculture. Ha! I'm some nasty guy.

But I forgot to hang anyone. There goes the membership in the collective. Damn.

John Sobieski said...

Democracy is evil. Capitalism is evil. Islam is beautiful. The mind of the Musulman sure has its wiring all screwed up.

hutchrun said...

Well if they wanna hang some muslims, I could help them get halal jute ropes from BanglaDesh.
Belly cheep cheep!