"When misguided public opinion honors what is despicable and despises what is honorable, punishes virtue and rewards vice, encourages what is harmful and discourages what is useful, applauds falsehood and smothers truth under indifference or insult, a nation turns its back on progress and can be restored only by the terrible lessons of catastrophe." … Frederic Bastiat

Evil talks about tolerance only when it’s weak. When it gains the upper hand, its vanity always requires the destruction of the good and the innocent, because the example of good and innocent lives is an ongoing witness against it. So it always has been. So it always will be. And America has no special immunity to becoming an enemy of its own founding beliefs about human freedom, human dignity, the limited power of the state, and the sovereignty of God. – Archbishop Chaput

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Sunday, March 6, 2011

Thailand also Facing the Kraken

Many thanks to Paul, a reader who sends us this story about the problems that Thailand is also facing from the inflation beast. Any wonder why gold and silver prices are generally strong during the Asian session?

Thailand may remove oil subsidy as fund runs out

BANGKOK, March 4 (Reuters) - Thailand's state Oil Fund has fallen to about 7 billion baht ($230 million), the Energy Ministry said on Friday, suggesting the government may soon remove a fuel subsidy, which could add to inflation worries.

Read the entire story here:


  1. Dan, I'm liking your use of the term "The Kraken". The visual imagery, that the word implies, is excellent.

  2. The "Kraken" is a global event. I see varying news of double and triple-digit annualized inflation across various asset classes in all the BRICs, Canada, Australia, and, of course, the Middle East. (Food, Housing, and Energy being #1,#2, and #3)

    It's not just China that is trying to debase their currency to maintain the trade balance with the U.S.; instead, as Faber accurately pointed out a while ago, all nations are doing the same and it is a competition to get to the bottom first.


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