What's happening ?!?!

The last few days have seen the Bernie Madoff scandal break.  

I'm living in a country where the so called 'Washington Consensus' on what constitutes good economic policy was obnoxiously rammed down the throat of politicians and policy makers.  Turns out the biggest crooks and most gullible fools might have been in New York and not in Jakarta!

Funny thing is - personally I have the same faith in markets now as ever.  As I've said to a few clients over the years, it's quite a lot about implementation.  And implementation involves competing objectives, compromise and hard work - as well as principle.

I suspect we'll see markets pass harsh judgement on the Wall St way of mobilising and deploying capital over the next few years.  

There are some parallels with my own medium term plans.  

I want to produce local food for local people at Moora.  The current industrial food system, no doubt, will think I'm nuts - but I suspect that industrial agriculture is almost as vulnerable to disruption and change as global capital markets.

We live in interesting times.