Wednesday, February 18, 2009

Kuwait Got it Right the First Time!

Reading this article from the International Herald Tribune, I have come to the realisation - once again - that our forefathers, as Kuwaiti people, were so far-sighted in their strategic planning that they envisioned a National Economic System that would be capable of standing all but the most devastating economic conditions for the country.

In itś essence, it reports that the European governments are now shifting their economies towards a more socialist-type hierarchy, by having more government subsidies, as more and more sectors of the economy are either being put into administration, or nationalised or sponsored and subsidised in some way by the respective governments.

Irony takes it that Kuwait already did so by blending the concepts of Capitalism with Socialism so that the welfare of the citizen is both secured and supported, while retaining and ensuring the freedoms of the Private sector, both at the same time. This is explicitly why and how Kuwait and Kuwaitis have remained relatively wealthy despite many economic downturns, recent among them is the latest global crisis.

Why, then, is Kuwait suffering a Stock Exchange fall, does one ask? In my humble opinion, the stock prices right now are ´exactly´ where they should have been in the first place. I´ve always argued that the KSE is grossly mismanaged and over-valued, in many cases, deliberately so by the same people that control the economy. Now, with the global crisis spiralling wildly, not even these people can control it, which is why theyŕe allowing all the loudmouth MPś to shout for more bailout plans that would ultimately be re-directed back into the controllers' pockets.

When all is said and done, one can clearly see that Kuwait, as a state, was established and set up in the most advantageous of strategies, aimed at promoting itś inhabitants for many years to come even after Oil runs out as a primary source of income, a testament to how strong Kuwait´s establishment pillars can support it as a country of wealth and prosperity.

What remains to be seen is whether another pillar keeps standing as initially concieved, that of the Kuwaiti Constitution. Danger awaits us if we let the loudmouths hijack the country to suite their own agendas, be it tribal, ethnic or religiious....all have plans within plans, and all are eyeballing the latest developments with eager anticipation.

I´m keeping my eye out for those that have remained quiet all this time, I wonder what they´re up to, and what it would mean to the economy, the government and the state.

1 comment:

TOUCHE' said...

Well said