Erle Frayne D. Argonza

Pan-Arabia, the whole region comprised of Arab ethnicities and state, is broiling in hot embers of social turmoil. As the turmoil escalates, with civil war as the maximum broiler exemplified by Libya, stock markets tumble and shiver.

We thought the new phenomenon of stock markets insulating themselves from political-military hot fires is the order of the day. It seems this isn’t so, as we see the diverse stock markets shiver and grope for better light with the advent of the Arabian broil.

The Philippine stock exchange, which hit the highest level of 4,400+ points late last year, had since been tumbling down, hitting a low level of 3,700+ points since the Arab broils began with the Tunisian crisis. The previous forecasts of the same stock market breaching the 4,800+ points is mere delusional, it is good material for banters and guffaws.

Sure, the Asian growth wave has been helping to jettison stock markets in Asia to better levels, I have no problem accepting this development. I already wrote notes about the matter and published them recently. But there are X factors that can affect stock markets, inclusive of a possible World War III that will pit the Sunni-Zionist alliance versus the Iran-led Shiite coalition.

To my own amazement, the Arab internal turmoil came, thus brushing aside the probability of a global war. Amazement, as I find myself in league with the pro-democracy younger generations of Arabs. Instead, the turmoil by itself has been affecting financial and capital markets in large measures, and so this for us is the X Factor worth observing.

We were all witness to how a political event—the Red Shirts mass upheaval in Thailand—brought down the Bangkok stock markets to pathetic lows last year. That political event was just confined to Thailand by the way, yet the stock markets of contiguous economies did quiver badly while the turmoil was unfolding.

In Pan-Arabia, the turmoil is region-wide, with Tunisia and Egypt showing the way to ‘regime change’ via people power upheaval or revolution. There is not a single political movement orchestrating the turbulence by the way, and let there be no mistake that the turmoil isn’t susceptible to manipulation by any one political or imperialistic force.

A turbulence so gigantic as to embroil an entire region comprising of almost two (2) dozen states is just too mind boggling for various quarters. Financial and stock analysts could be at a lost at the moment for answers to the puzzles raised by the pan-Arabian turmoil, just as political analysts are at a lost for their equivalence of efficacious tools and forecasts.

So the question that can be raised from the unfolding events in pan-Arabia is: will the turmoil make or brake global stocks altogether? If in case the stock markets will plunge anew from this juncture, will the end of the pan-Arabian crisis put an end to the plunge and bring back the stock markets to new bullish rounds? Or, will the stock markets see the end of them all, and lead to the de-institutionalization of centuries of stock trading?

I am of the opinion that stock markets should be abolished altogether, and forecast many years past that stock markets will crash down to never land in the foreseeable future. That crashing down began in 2007, and a much bigger crash will happen sooner or later. The result of that crash will see the greater justification for abolishing the dirty gambling game of stock trading, and lead to alternative capitalization of enterprises other than stock trading.

So let’s all watch out closely for the unfolding events, and see how they dovetail into the stock trading trends. If ever stock markets will show semblance of growth, this will be only tentative till the last month of 2012 if ever. Stock markets will have no future beyond 2012, rest assured.

[Philippines, 09 March 2011]


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