John Baeyens

The banksters’ plan now is for icing on the cake – to take Mr. Paulson’s $700 billion and run. It’s not a “bailout of the financial system.” It’s as giveaway – to insiders, to sell out all their bad bets. Companies across the board will get rid of their bad mortgages, and also their bad car loans, furniture time payments, credit-card loans, student loans – all the debts that any competent actuary could have told them never could have been paid in the first place.

tot 1u 's nachts

inflation should be seen at the consumer level, RMB said, as the agricultural producer price inflation had already fallen sharply and transports costs were moderating.\n\nThe upward pressure on the index from food, electricity and housing costs would be partially offset by a 27-cents-per-litre cut in the petrol price during the month.\n\nThe rapid decline in the price of Brent crude oil, which had dropped by 33% (from a high of $145 in early July to $97) paved the way for further petrol price relief despite the recent bout of rand weakness.\n\n"We have already seen a 74c/l cut in September and forecast further cuts of 30c/l and 10 c/l in October and November.\n\n"With petrol set to subtract from increases in CPIX in the months ahead, August will in all likelihood mark the peak of a lengthy three-year inflation up-cycle." — Sapa

The pivots in the oscillations between inflation and deflation tend to be swift and vicious. The deflationists might be lining up to go the investment guillotine this time around. The US dollar failed to poke through the "80-level" where it encountered massive resistance. It will be difficult for gold not to stage an impressive rally from where we are today. A little over a week ago, it felt like we were caught in the vice grips of inescapable deflation. In one fell swoop, the "Paulson Plan", certain to only grow in size and scope from here, has completely reversed the landscape to an inflationary/stagflationary one. Prices go up and growth goes down.

They warned that the consequences would be felt in the markets, where judgement would be harsh. The analysts Fin24.com spoke to called on the ANC to provide certainty, not only about the personalities in key finance positions, but also about the policies that the next Finance Minister - whether it was Manuel or not - would follow.\n\nSanlam economist Jac Laubscher said the key issue at the moment was policy continuity, and not necessarily who the minister of finance would be. Even if Manuel was appointed again, the message to the markets was that the ANC wasn't handling the transition well.

productivity down

President Thabo Mbeki, who has led South Africa since 1999, agreed Saturday to go quietly after the ruling ANC asked him to resign. Mr. Mbeki leaves behind a largely incompetent government fraught with nepotism and corruption, and a despondent country with weakened institutions, declining education and health standards, out-of-control violence and an HIV/AIDS pandemic.