Fitch upped its rating on Bolivia yesterday (for those who care, it's now a 'B Stable'). Of course the world reacted with its usual apathy but one line of the Fitch review is worthy of dissemination to the four corners of this planet. Fitch said:
Go figure. Seriously, go figure. Don't just forget about it because the concepts are uncomfortable to you, have a good think about it.
"..limited foreign participation in Bolivia's banking system as well as the absence of toxic assets or sizable international funding has shielded the country from fallout from the global crisis through direct financial channels."The implications of that simple sentence run for thousands of words. Bolivia avoided the recipe for destruction handed out by the northern paymasters and is ignored because it has the fastest growing economy in the region. A once and future coca leaf grower runs countries better than teams of dumbasses in suits (you know them by the name 'economists') with multisquillon dollar eddycations. And now the country's embarrassing success is swept under the carpet, except by those technicals who are paid to recognize its macroeconomic stability.
Go figure. Seriously, go figure. Don't just forget about it because the concepts are uncomfortable to you, have a good think about it.