We all sit here eagerly awaiting to hear if the ego-inflated politicians of Europe will come together and save Europe and the euro.
The Western media is steadfast in keeping vigil over German Bundenstag as well as the antics of Sarkozy and Berlusconi.
And eventually the euro may be rescued — or not.
Frankly who cares? The lies and manipulations that will lead to some kind of hybrid salvation of the euro will only lead to future problems as major reforms will be swept under the carpet rather than addressed.
The real crisis is excessive government spending and placating the masses so that the politicians get re-elected. This is widespread across Greece, Spain, Italy and several others. If this is not addressed, then we are just kicking the can down the road.
The real prize that the Western media is not even focusing on is the clear signs across Asia, where after nearly a year, we are seeing clear signs of inflation receding. First, we had China where we saw inflation growth slowing, which was followed by Australia.
The Reserve Bank of India also hiked rates again but indicated a stop to the rate hikes as we see inflation peaking at around 7 percent. While I had called for the rate hikes to stop after the last one, I am glad to see that the efforts of the RBI are bearing fruit.
Yes, it has taken its toll before it succeeded but it is working. The RBI has officially reduced the GDP growth forecast to 7.6 percent from the 8.0 percent from earlier days. A 7.6 percent with an upward bias vs. the 2.1 percent in the U.S. You decide where you want to be?
China is also seeing an uptick in business activities. While it still suffers from an overhang of a bubble like the property price hike, if there is one country in the world where the government can force controls down speculators throats, it is China.
The mainstream media also did not play up the news of the dramatic decline in the consumer confidence in the U.S. It has fallen to really low levels and shows signs of further decline. And yet the Asian markets rallied, not showing too much concern over the lack of good news out of the U.S. And the S&P/Case-Shiller home-price index fell again.
While I am not completely convinced yet about inflation under control in Asia, I am dusting off the covers of my investment picks in Asia and getting my trading screens up. I have started enjoying gains from Dalal Street (India’s Wall Street) on the select investments I had still retained and may start gradually getting more active there. Singapore is back as is Australia. Regarding Thailand, I will still hold off on due to the flooding challenges and watch for some real solutions.
So I would suggest you get your eyes off of Europe and start focusing on where the real growth is beginning to re-emerge.
Stop being led and start digging out the gems in earnest for yourself in Asia.
© 2014 Moneynews. All rights reserved.