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Read Me
Tell Me A Tale
The Wise Goose
Several Asian countries are facing serious economic turmoil consequent to depressing falls in the currency and stock markets. The ensuing liquidity crunch has caused severe hardship to the people. The IMF bailout package has not solved the situation, and in fact has worsened the situation in South Korea and Indonesia. The hunt is now on for a saviour. Is this hunt a wild goose chase? We do not know, but if you would like to read an Asian folk tale of the wise goose, here follows the story.....

goose n. (pl. geese) web-footed bird between duck and swan in size; female of this (cf. GANDER); flesh of goose as food; simpleton; (pl. gooses) tailor’s smoothing from (with handle like goose’s neck); goose-flesh (or -pimples) bristling state of skin due to cold or fright; goose-strip parading-step of marching soldiers with knees kept stiff. [OE]

There was a tall tree deep in the forest of Sumatra, Indonesia which was the home of a flock of wild geese.
One of the geese was a wise old bird.

One day he noticed a small creeper at the foot of the tree. He called on the flock and advised them to destroy the creeper. His opinion was that if the creeper is allowed to grow, it will become thick and strong and one day it may be possible for someone to climb the tree using the creeper and kill the birds.
The flock was not so concerned as the creeper was young. They did not destroy the creeper and in time forgot the wise goose’s advice. So the creeper grew day by day, winding up the tree. The creeper became stronger and stronger, until it was as strong as a thick rope.

One morning when the geese had gone out in search of food, a hunter came to the place. With the help of the creeper, he climbed up the tree, and discovered the nest of the geese. So he spread out his net and went away.

That evening the geese returned to their nest on the tree. They did not notice the carefully laid out net, and were trapped. They struggled hard to escape the net but to no avail. They knew immediately then why they should have destroyed the creeper when it was young, but now it was too late.

So the flock looked up to the wise goose and the wise goose gave them a plan.

... and then

When the hunter returned, he noticed that the birds were apparently dead. So he threw the geese one by one out of the net onto the ground so that it will be easy for him to pick them up from the ground and go home.

When the last goose was thrown down, they all got up, flapped their wings and flew away.The hunter was suprised and stood staring after the geese. The geese were pleased that they got away at last, safe and sound.

The Asian countries are like the geese. These countries have had creeping problems, but were are not addressing them. They were more concerned with growth than the problems of deficit current account or high foreign debt. The forex speculators are like the hunter. The hunters have had a field day. Some currencies have been routed to very low levels. This has caused serious implications on national stability and sustainability of the economy. The regional effects can affect the rest of the world. Can the Asian countries escape the hunters in one piece? The Asian countries need to look out for the wise goose... Any nomination? or suggestion?
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Review:  For More Transparency of Hedge Funds
Repartee:  The Hunter is Down!
Update:  Regulate the Hedge Funds
Commentary:  Save the Hedge Funds
Report:  Fix the Economy (and the IMF solution).
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