Illusions of Keynesianism
Guyana Goldfields, etc.
Keynesian economics aspires to create something out of nothing. Underpinning it is the magical thinking of those who have physically grown to adulthood but who have failed to give up the romance of childhood. It also works very well for psychopaths who aspire to rule over and feed on gullible masses, and to rise to the positions of leadership. It is this marriage of magical thinking of the masses and psychopaths that enables Keynesianism to survive and has now been made worse by MMT.
Here are some thoughts on Keynesianism, how easy it will be to have a trade war with China, and whether India is the next China:
I have written a lot on how the Third World has been destroying its institutions since the time the colonial powers departed. China is one of the rare exceptions. India has been certainly on a downward spiral for the last seventy years, with no hope in sight. Here are some thoughts on the horrendous consequences of the curfew enforced in India:
This is a season of mergers, rights offerings, and financings. Here are some companies I am paying attention to:
- TMAC Resources (TMR; C$1.50): They have a buy-out offer at C$1.75 per share, offering a 17% arbitrage upside. The shareholder vote is later this week, but you can expect a delay in government approval, given the sensitivities around the area that the project is in. It is even possible that the government might not allow this buy-out to happen.
- Guyana Goldfields (GUY; C$1.73): They too have a buy-out offer, at C$1.85. The upside is 6%. This is not bad for a merger that will very likely go through later next month.
- Mirasol Resources (MRZ; C$0.33): MRZ is trading not much higher than its cash value. If the option agreements with Newcrest continue, I see an easy 100% upside in owning MRZ.
- O3 Mining (OIII; C$2.17): They have recently closed their financing. O3 continues to trade at a significant discount to its value. Moreover, I hardly see any risk at the current price.
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