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The games have been billed as China's "coming out party" to the world. They are far more significant than that. These Olympics are the coming out party for a disturbingly efficient way of organizing society, one that China has perfected over the past three decades, and is finally ready to show off. It is a potent hybrid of the most powerful political tools of authoritarianism communism -- central planning, merciless repression, constant surveillance -- harnessed to advance the goals of global capitalism. Some call it "authoritarian capitalism," others "market Stalinism," personally I prefer "McCommunism."

By next year, the Chinese internal security market is set to be worth $33-billion. Several of the larger Chinese players in the field have recently taken their stocks public on U.S. exchanges, hoping to cash in the fact that, in volatile times, security and defense stocks are seen as the safe bets. China Information Security Technology, for instance, is now listed on the NASDAQ and China Security and Surveillance is on the NYSE. A small clique of U.S. hedge funds has been floating these ventures, investing more than $150-million in the past two years. The returns have been striking. Between October 2006 and October 2007, China Security and Surveillance's stock went up 306 percent.

Ever since the 1989 Tiananmen Square Massacre, U.S. companies have been barred from selling police equipment and technology to China, since lawmakers feared it would be directed, once again, at peaceful demonstrators. That law has been completely disregarded in the lead up to the Olympics, when, in the name of safety for athletes and VIPs (including George W. Bush), no new toy has been denied the Chinese state.

半年前,股神巴菲特(Warren Buffett)减持中石油(0857.HK: 行情)(PTR.N: 行情)的时候,中国市场不乏耻笑之声.巴菲特在12元港币左右连连减仓,中石油价格却频创新高,不久之後还突破了20港元.不过市场的发展证明他的确有先见之明.港股直通车狂热散去後港股走熊,中石油股价最近曾跌破了10港元.

他如果能够再等上几个月,投资的回报可能更为丰厚,但如果这麽做,巴菲特也不再是价值投资者了,而成了投机者

One of the distinctive traits about Iceland’s disaster, and Wall Street’s, is how little women had to do with it. Women worked in the banks, but not in the risktaking jobs. As far as I can tell, during Iceland’s boom, there was just one woman in a senior position inside an Icelandic bank. Her name is Kristin Petursdottir, and by 2005 she had risen to become deputy C.E.O. for Kaupthing in London. “The financial culture is very male-dominated,” she says. “The culture is quite extreme. It is a pool of sharks. Women just despise the culture.” Petursdottir still enjoyed finance. She just didn’t like the way Icelandic men did it, and so, in 2006, she quit her job. “People said I was crazy,” she says, but she wanted to create a financial-services business run entirely by women. To bring, as she puts it, “more feminine values to the world of finance.” Today her firm is, among other things, one of the very few profitable financial businesses left in Iceland. After the stock exchange collapsed, the money flooded in. A few days before we met, for instance, she heard banging on the front door early one morning and opened it to discover a little old man. “I’m so fed up with this whole system,” he said. “I just want some women to take care of my money.”

总理指着北川县城唯一未倒塌的希望工程小学照片，大声说：“我代表人民感谢这位建筑商！”

总理谈到捐款：“有的企业认为捐款是负担，还建议员工捐款以10元为限。我正告这位冷血的企业家，法律不能强迫你捐款，但你记着，只要你在中国的土地上经营，你就千万不要漏税，否则所以的罚款都会用到灾区！还有，你不是在成都有没卖掉的房子吗？紧急状况下国家随时可以征集用作灾民安置！”

总理谈到责任问题：“绝不回避也不包庇，地震当天国家地震总局的主要领导正在欧洲访问，我们一定会要求他对全国人民做出真实的述职报告！”

尽管官方数据显示，中国第一季度经济增长率保持10.6%的稳固水平，但对香港和内地股市来说，昨天并不好过。经济数据导致人们担忧，政府将采取进一步措施以遏制通胀并给经济降温。

股市收盘后，中国央行宣布今年第三次上调银行存款准备金率，试图抑制流动性和信贷增长。

中国的通胀水平仍然居高不下，3月份达到8.3%，略低于2月份创下的8.7%这一11年高点。

中国平安 　　发点数据看看吧：根据平安去年9月30日的财报，平安总资产6237亿，而负债高达5187亿，净资产1000亿出头，在这1000亿中，发行H股拿回来132亿，发行A股又拿来400亿，而在去年那个波澜壮阔的大牛市中炒股票等投资收益又有461亿元，加上卖给其他莫名其妙的股东的拿回来的股本大概有几十亿元，也就是说，此前属于平安积累起来的真正的净资产居然是0。作为一个垄断形式存在20年、号称三大主业九大公司的全国性的金融企业，近二十年积累居然没有积累一点净资产。这种公司竟然是所有基金标配的大蓝筹。 　　傻就傻吧，只要不亏到我的钱，可是不是。 　　中国平安这家已被英国控股的外资公司，从宣布从二级市场公开增发到现在，给该公司股票投资者造成的损失超过3600亿；同时造成大盘暴跌3000点，总市值损失超过7万亿，流通市值损失接近4万亿，按照6千万投资者计算，平均每人亏损6万6。如此惊人的财富损失，放到任何一个大国将会引起动乱，放到任何一个小国将会引起政变。7万亿接近中国GDP的三分之一（2007年GDP3.61万亿美元），任何一个国家三分之一的财富被一家公司给蒸发掉，都不会无动于衷，而中国平安，却满不在乎地在等待数钱，甚至连募集1600亿资金的用途都不屑理会投资者的询问。以简单的"全部用于充实公司资本金以及/或有关监管部门批准的投资项目"。如此的傲慢与自大令人吃惊，活画出一个圈惯钱的权贵公司的心态。 　　为什么上市公在市场行情看好时定向增发不断，而行情出现震荡时，公开增发层出不穷？显然，这些公司娴于榨汁技巧，通过先易后难的方法，把市场的最后一滴资金汁液挤到自己的碗中。

中国石油、中国石化 　　中石油上市时，管理层信心满满要还利于民。这样的公开承诺隐含了两层含义：一是H股价格将与A股接轨，而不是A股价格与H股接轨；二是中石油承诺将平等地对待A股与H股投资者，一样地给予高额红利，如果不是这两项承诺，所谓还利于民就是欺骗行为。 　　实际上如何呢？上市后价格被打得落花流水，中石油屡次破发，靠基民的钱力挽狂澜，这哪里是与H股接轨，明明把中国垄断资源的定价权拱手交给美元投资者，让海外资金低价来接中国资源的盘。 　　高额分红更是镜花水月，再引用一组数据：中国石油在美国上市所取得的融资额是29亿美元，上市四年来公司已累计拿出119亿美元给投资者分红，而中国石油在中国A股市场上市所得到的融资额约500亿人民币而至今给流通股东的年分红还不足6亿人民币（相当于0.845亿美元），中国石油在中国A股市场的融资额是在美国融资额的2.43倍，而年分红只有美国股市年分红的2.84%（相当于三十五分之一），面对这样的数据，那些口口声声还利于民者，情何以堪！ 　　中石油中石化拿着中国人民的石油资源（不用交资源税），赚着垄断企业的巨额利润，还输送给境外投资者高额回报，将境内投资者牢牢套在高岗上。资本市场上还有半点中国企业的样子嘛？再看看他们给我们的生活带来了什么改善嘛？没有！反而是一而再，再而三的油荒！ 　　据海关总署的数据显示，去年前9个月，我国出口成品油总量达到1186万吨，大幅增长30.6%。1～10月的汽油出口总量达427万吨，较上年同期增长53.1%。虽然出于各种因素，我国油品有必要进行一定的进出口，但出口涨幅如此巨大，除了逐利之外，没有其他因素可以解释。因此，这种出口行为本质是在制造油荒，为成品油涨价作铺垫。

特权阶层 　　仅2007年一年，汇丰银行控股的瑞士分行就从中国大陆获得私人存款227亿瑞士法郎，相当于近1600亿人民币。大家可以想像一下，全世界类似汇丰银行瑞士分行这样的银行有多少？这些银行从中国大陆一年又能转移走多少资金？ 对于暴力爱国的补充 　　国内不公平的市场秩序没有得到根本性扭转，民企与普通投资者往往成为社会资源倾向性配置的受害者，生活在明显不公环境下的人容易产生受害意识，进而从爱国走向民粹。国资与外资处于第一梯队，而民企处于第三梯队，有关部门片面强调开放却对近在咫尺的国内竞争主体刻意打压的做法，也是民族主义的催化剂。

The past 10 days will be remembered as the time the U.S. government discarded a half-century of rules to save American financial capitalism from collapse.

In ordinary times, a capitalist economy lets prices -- such as those of homes, mortgage-backed securities and stocks -- fall to the point where the big-bucks crowd rushes in, hoping to make a killing. But if the big money remains on the sidelines, unpersuaded that a bottom is near, the wait for bargain hunters to take the plunge could be very long and very painful.

But something big just happened. It happened without an explicit vote by Congress. And, though the Treasury hasn't cut any checks for housing or Wall Street rescues, billions of dollars of taxpayer money were put at risk. A Republican administration, not eager to be viewed as the second coming of the Hoover administration, showed it no longer believes the market can sort out the mess.

纽约股市午盘，在金融类股的带领下，标准普尔500指数上涨2.4%，至1354.16点，成为3月18日上涨4.2%以来表现最好的一天。伦敦富时100指数上涨2.6%。在亚洲市场，香港股市上涨1.3%，日经225指数上涨1%，为第二季度的交易创下了一个乐观开局。