Background: Defining emerging markets: “The 7 per cent Club”

The BRIC Nations

Trust Goldman Sachs and their chief economist Jim O’Neill to come up with a nifty handle like BRIC.  Make no mistake, I like Jim O’Neill, he’s got an earthiness that belies a pretty sharp mind and I’ve always enjoyed listening to him.  Of course, sharp minds are par for the course at Goldy but Jim does have some pretty good strategic thinking brain cells.  At an intellectual level, you can’t argue with the reasoning that leads to this grouping.  But the cynic in me is always left cringeing at the the hype surrounding this bullshit.  What makes it worse is the way the people in the BRIC countries start believing all that guff.  Anyone who’s had to endure “India Shining” (or is it “Rising”?  Hard to tell with the gorge rising in one’s throat) will know what I mean.    Continue reading “Background: Defining emerging markets: “The 7 per cent Club””

Trade Notes: BP’s spill that keeps giving

BP’s spill saga continues, the networks in the US are still breathless with nary a nod to other stories (who cares about a bunch of Turks being killed anyway?).  The latest obsession being that Obama is not showing enough anger about this fiasco.  The American people’s completely warped concept of reality (not to mention Presidential powers and leadership abilities) never ceases to amaze me.  What do they expect the President to do beyond what he’s already done?  A BBC journalist actually drew parallels with Hamlet at Ophelia’s funeral asking how much Americans wanted their president to show emotion (versus, it’s implied, actually leading the country out of the mess it voted itself into.  Twice.).  But I digress, like just about everyone else. Continue reading “Trade Notes: BP’s spill that keeps giving”

Trade Notes: Long Norsk Hydro?

Norsk Hydro (NHDY:US) just bought the Aluminum assets of Vale in Brazil for USD 4.9 billion.  That pretty much guarantees Norsk a reliable raw material supply (bauxite and alumina) into the next century.  Continue reading “Trade Notes: Long Norsk Hydro?”