Friday, July 18, 2008

In Pakistan, a $30 billion market loss prompts riots


....and in Canada, a positive Editorial from the Toronto Star?






Imagine if the investors in Pakistan had lost their $30 billion in savings as a DIRECT consequence of their government.......and based on a fraudulent lie about tax leakage? They would go ballistic. Nuclear in fact.

In Canada, we get positive editorials from the Toronto Star. National Post and Globe and Mail. Obviously Canada is not a democratic or a capitalist society......just a corrupt plutocracy.

Plunging stocks prompt riots in Pakistan

Bloomberg
July 18, 2008

Pakistani investors stormed out of the Karachi Stock Exchange yesterday, smashing windows and cursing regulators after the benchmark index fell for a 15th day, the worst losing streak in at least 18 years.

"I have lost my life savings in the last 15 days and no one in the government or regulators came to help us," said Imran Inayat, 45, a protester and a former banker who retired early and said he lost 300,000 rupees ($4,218) on the market.

Police surrounded the exchange after hundreds of investors stoned the building and shouted anti-government slogans.

The Securities and Exchange Commission of Pakistan, which imposed and then removed a 1-per-cent daily limit on price declines this week, had attempted to halt a slide that wiped out $30-billion (U.S.) of market value in three months, threatening to undo a 14-fold rally since 2001.

2 comments:

Dr Mike said...

Maybe taking to the streets might have helped.

These guys counted on the fact that we could be easily discredited by portraying us as rich & greedy--they have the ability to turn their own lie into our fault.

This is so typical of their play book--lie to the public but make the target of the lie appear to be in the wrong---make it look like that group forced them into a certain action making the lie OK.

Maybe if we had taken to the street in big city to city riots we would have gotten more notice & just not lip service.

Of course this would have forced the crime statistics thru the roof making their Law & Order agenda look more productive.

Some days you just can`t win!!!!!

Dr mike Popovich.

wewillnevergorget said...

I have a pile of throwing size rocks in my garden .. let's roll!