.
|
|||
"A bewildering series of events" (1)Warren E. Pollock The phrase "a bewildering series of events," can accurately be used to describe the changes now occurring in global markets, economics, politics, and international relations. I found this phrase in the first sentence of Alan Greenspan's latest oratory, its use in defining a concern was quite disturbing because the solutions offered suggest that the costs will be high and that they will be borne by honest and average working Americans. Presently, in some parts of the world per-capita standards of living are on the rise, jobs are being created, and by and large more capital has been formed than wasted in new enterprises. These positive activities are occurring in China, India, and Russia. Simply put, these productive activities are not occuring HERE! Recent FED-SPEAK fails to notice that the positive force of tearing down the old to put up the new, the force of "Creative Destruction" can in a global world mean that other less-developed parts of the world grow as our economic prospects erode. On the current course it seams that these "bewildering" events are likely to culminate in some sort of global adjustment. How long, how hard, who gets hurt the most, and who survives most intact, who gets to prosper will be questions that will find an answer in fact shortly after the dust settles. On the international level a question resides in which country, trading block, or region will emerge most intact and with the best prospects for the future. On a more personal basis Americans needs to consider that Globalization seeks an equalization of per-capita wealth and entitlements. Economic dominance needs to continually be earned by providing value-added in the production of goods, technology, and intellectual property. As a financial services economy we forgot this basic business concept. John Mackenzie and I recently framed the value of Gold to uncertainty. Gold will always provide certain purchasing power. As the self-proclaimed center of the economic universe we face the highest level of uncertainly should the status quo of the international reserve currency unravel. These bewildering events, "distortions" and forces are in my opinion providing the power behind Gold's recent resurgence as currency. --- (1) "As the Great Depression of the 1930s deepened, John Maynard Keynes offered an explanation for the then-bewildering series of events that was to engage economists for generations to come." = Remarks by Chairman Alan Greenspan - Economic flexibility Before the HM Treasury Enterprise Conference, London, England (via satellite) January 26, 2004 Warren Pollock Warren Pollock
is a guest author on Jim Sinclair's Mineset and has been published in journals
including the Journal of Homeland Security. |
