Saddam's Ghost: Is LAUGHING!

hi red...that really is something alright. and yes it must be nice. i heard today that they are planning to use some technology in our stock market that will cause everything to freeze if stocks start falling fast. to prevent people selling in a frenzy.

Now Red, this is sad, I suspected this was going to happen, so I organised myself an account at the Bagdad stock exchange, that got set up AOK, very friendly those Iraqi stock exchange folks. But, I was going to save up some bucks and invest over there, BUT. It all happened too quickly. I haven't got any bucks to invest yet, Ahhhhhhhhhhh. If you also want to set up an account in Bagdad Red let me know, I'll help as much as I can.

I see while I have been out and about, your star has rose to the wonderful level of three. Either your softer side is winning over the hearts and minds of the populist of MyLot or the anti-Redyellowblackdog crowd just forgot about you. Iraq is an example to the rest of the Arab world. For to long Arab countries have only invested in two things oil and their military, the oil to fund the military and the military to protect the oil. A country cannot put all of it's eggs in one basket, and even though oil is profitable, diversity is where the money is. Take Dubai, an oil rich country that has multiply investment opportunities outside of oil. Maybe Iraq will not fall into the same trap as all other Arab countries have and rely on oil as the source of their countries wealth.

He probably is! I find that this bit of news is sickening!!!! I wonder what Saddam's namesake will do about it if he gets elected?

Iraq Stock exchange (ISX) is a tiny one - about a hundred companies are listed and much of the market is ruled by sentiment, rumours and a few bold traders. Foreign investors are few and far between, since the market was opened up last year. A rising stock market is usually considered to be a reasonable indicator of the health of the economy. But the Iraqi traded economy consists a couple of banks, soft drink and bottled water and a few companies processing locally available materials and of course hotel companies (to house the visitors). With oil prices generally defying gravity, and the US continuing to pour billions into Iraq, it is a long road to recovery and stabilization. Private venture capital will take some more time to trickle in. Till the market grows to at least 50 times its current size it would be easy for any punter with risk money of a million dinars to move the market any which way!! I suspect food, cement, property and such basic industries will drive the ISX for the next five odd years. The ISX will show some volatility around the time of the US elections but will steadily climb in the years to come. And yet - would I invest there? The answer is an emphatic and definite NO. I am convinced that Iraq will continue to fester with the infection of fundamentalism from its neighbours making it the pustule of the Middle East. Any pragmatic investor who throws in 5 or 10% of their portfolio can manage to increase short term yields on the strength of the Anglo-American commitment to helping Iraq recover. The ghost of Saddam if laughing is laughing at a hollow indicator!

Perhaps the USA could find ways to start shifting some of the cost of the war to Iraq's booming economy. I believe in an afterlife according to the Christian fundamentalist belief, so I doubt Sadaam will be laughing about anything.