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| This Week's Commentary: | Volume VIII, Number 35 |
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Speculators Flood New Chinese Stock Exchange -- A new stock exchange, ChiNext, opened on Friday in China, and the speculators were out in droves. The weakest performing of the 28 stocks rose 76%. As each of these issues appeared to be an IPO, the companies involved got robbed by their bankers. However, everyone in China said it was a good way to start trading. It would seem the Chinese Communist Party doesn't mind speculative froth. Peng Yunliang, an analyst for Shanghai Securities, said the exchange, "will help to upgrade industries, serving as a window for the world to know more about the Chinese economy." All the world needs to know right now is to stay out of this particular exchange until it matures some.
[November 2]
Abdullah Pulls out of Afghan Run-Off Election -- Former Afghan foreign minister and presidential candidate Abdullah Abdullah has decided not to contest next Sunday's run off election for the presidency. That means Hamid Karzai will get another term in office. One might think that is a good thing for the country and its supporters abroad. In fact, this is the worst of all possible election results; Dr. Abdullah is quitting because he believes the process to be flawed and unfair. This means that the legitimacy of the Karzai government remains in question. [November 3] US Elections 2009 Were Not That Important -- Yesterday was election day in many parts of the US. However, only two members of Congress were chosen in special elections, only two governorships were at stake, and voters cast ballots for local offices and referenda that are truly provincial affairs. The Republicans, who haven't won much of anything, trumpeted their victories as the Second Coming of the Prophet Reagan. The Democrats, who can't seem to pass a health care bill despite huge majorities in Congress, claimed the voting meant little. Independents drew blood by casting out the incumbents where they could. However, when the most important job up for grabs is the governorship of New Jersey and when turn-out is pitifully low, the balloting is merely a single datum, not evidence of a trend. [November 4] Jackson's "This is It" Would Have Been It -- This summer was supposed to see a Michael Jackson comeback concert. As the entire world knows, Mr. Jackson didn't make it to July, dying of a drug overdose that still confuses people. However, Kenny Ortega, the director of the stage shows, filmed about 100 hours of rehearsals, and he has boiled that down to two. The result is called "This is It." Based on the footage released, the concert would have been something else. As it is, his fans will have to make due with a movie that hints at what might have been. [November 5] Copyright 2009 by The Kensington Review, Jeff Myhre, PhD, Editor. No part of this publication may be reproduced without written consent. Produced using Fedora Linux.
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