It seems only a year ago that the pandering media and political/union classes treated India and China as the great threat to western civilization. Countless counter productive accusations that the east were stealing jobs, taking our birthright, so on and so forth.
Today the new demons are the bankers. Why?
You do not have to be read in finance or economics to determine what caused the housing and derivatives bubble and burts of 2008. If you simply engage your internet browser and type the history of speculative bubbles, you will find many examples. The earliest examples of such bubbles occured in the mid 1600’s. It was called the Tulip Bubble. In 1720 it was the South Seas Bubble, passed by an act of the British Parliament.
Read the history of these events. Determine for yourselves what caused them. There are some things that every human being must face every day of their existence. One of them is reasoned self-restraint – even in the face of times when we are licensed by government, an over-inflated fiat money supply or just plain self-destructive impulse.
Banking is an honorable profession. They are the facilitators of commerce. The oldest jokes in the modern era are about lawyers and bankers. The same holds true for the developing world.
The world is an incredible place. We see continents to the east that are transforming their economies and as a consequence, their societies. As they become economically empowered, they will become socially and intellectually empowered. In the latter sense, this has already taken root.
Take care of yourselves. Opportunities are abound. You just need to act as if they are already there. It is not a leap of faith I assure you, it is simply a conclusion based on years of experience. Even in my deepest econmomic crises, I took the time to reinvent myself. Whereas I grew poor in one area of my life, there was always another part where I could grow rich.
The age of Gratitude, Integrity and Reason must begin.
P.S. Now that I am settled in London with a home internet connection, I will be posting more frequently. I thank you all for your patience and look forward to your feed back in the days ahead.
Peace.
