The charge of the lemmings

I enjoy reading the Financial Times (FT) of late to read about the ‘shock, horror’ of Dubai World essentially being insolvent.  After all they only owe around $40b.   I am not sure if its only me, but personally I think it serves all the greedy fuckers right, who blindly put their money into a massive building bubble and then sit there expressing shock that the whole thing is about to fall apart.  “Confidence evaporates in the desert heat” is the title of one article which then goes onto describe how investors have begun to realise that “the emirate has no clothes” and the potential impact on global stock markets.  Over time, the more that I read concerning how stock markets react to what is collectively described as either ‘positive’or ‘negative’ news, the more I wonder if these people really are as stupid as the herd mentality would seem to suggest.  To date I have not read a lot that would suggest that herd stupidity seems to be the one currency that does not seem to be in short supply.  I cannot wait for another weeks stories of doom, gloom and collective wrist slashing.

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