Taoyuan Nights

… but not today.

http://online.wsj.com/article/SB124958427788111913.html

Meanwhile, cigarette smokers across Taiwan continue to insist that they can quit any time they want, possibly even right now, if they really wanted to.

The only good news here is that the government is possibly starting to realise that if spending doubles and tax income halves, the country is in serious trouble long term.

I notice lately that the stockmarket in Taiwan and China is booming. I am guessing this is a consequence of the stimulus program in China combined with low interest rates and a continuing inability for people to connect with the reality of shares: they are not lottery tickets, or horses being raced. Rather, they are businesses in Taiwan.

Has the global crisis ended, or is it simply that many governments are printing money to fuel unaffordable stimulus programs – mostly in an effort to retain popularity with voters, rather than to set the country on a stable economic footing…

I think people investing in the Taiwanese and Chinese stockmarkets at present prices are mad. They could have bought the same shares months ago for a fraction of the current price. So why buy now, just a few months later, for twice as much? Answer: they have no idea what they are doing.