Monday, 7 January 2008

Ray Dalio: interest rate cuts are not the answer

Ray Dalio, founder and chief investment officer of money manager Bridgewater Associates, says that interest rate cuts will not solve the problems caused by the turmoil in the credit markets. He reckons a revaluation of the Chinese renminbi would help.

Well, he's right on the interest rate cuts, but I don't know about this Chinese renminbi stuff. Renminbi? Oh, I don't know. It doesn't sound that good to me. What you need at a time like this is the power of prayer. But to whom should you pray? Forget about God, Jesus, Buddha, Krishna, and the rest of that mob. You have to focus on specialist money gods such as Ganesh, Lakshmi or Big Herb. I personally recommend Big Herb - mainly because of the close working relationship I had with him when he was a mere financier on planet earth. Ganesh is good. I like him. But I don't know about Lakshmi. Personally, I don't have anything against her, but Ganesh has told me he can't stand the woman, and I suppose he must have his reasons. What reasons? Probably professional rivalry - they both have their power base in India.

What kind of prayer should you use? Just a normal money prayer. I strongly advise you to compose your own prayer though. Don't get one out of a book or off the internet. The personal touch is what matters. Big Herb has heard all the prayers before, and he often complains about how pissed off he gets having to listen to them day after day. Why not surprise him? Come up with something original. He'll be impressed. He will see you've made an effort, and - hopefully - he will take a look into your business affairs and see what he can do to help you out. Try it. What have you got to lose?