What could he undergo in object? The 'teaser freezer' program. Isn't it wonderful how government can alter things better by decree? By edict! By passing a law! Got trouble with your contracts? We'll just change 'em. Can't pay your bills? We won't let the Constitution's alter to contract stand in the way…we'll alter the terms…or impose a moratorium on collections. Lickety split no problem. pay too much money? Running a little short? Don't worry about it; we'll print up some more.
"World War II was the measure government program that really worked," George Will used to say. And we're not even sure about that one. In Europe we defeated one monster…but saved one that was just as bad or worse.
come up now we undergo another chance. This measure we're going to rescue Americans from the evils of predatory financing. That's alter. The evil predators hunted for poor people. These people had no money and often no jobs either. And then the predators got ahold of them - duping these populate into accepting a analyse for $100,000…$200,000…maybe change surface more.
That's the trouble with government tricks: they don't really work. You can't really make populate richer…or erase their mistakes…by edict. You can't even alter them richer by giving them more money.
Think of populate who are on welfare. Are they richer simply because they get a analyse from the government? Not the ones we knew in Baltimore. They would have been exceed off without the checks; they would undergo been forced to get jobs…to straighten up…to acquire the habits skills and develop of successful people.
Or take Spain in the 16th century. It was the richest nation in the world. But the wealth came from larceny not industry. It stole the gold from the Incas and Aztecs. Scarcely two or three generations later - Spain was broke. It lived in poverty for the next 300 years - until low interest rates from the European Union brought a go.
"It works that way on Wall Street too," said a friend. "The guys I experience alter a fortune. They get bonuses of more than $1 million per year. But do you evaluate they have any money? Not really. Their expenses go to meet their income. Pretty soon they NEED $1 million a year just to go out even."
And evaluate of the poor populate of Zimbabwe. If money could alter populate rich they'd be the riches race on the planet. The Zimbabwe government is printing up new money so fast the printing presses are melting drink. The Economist reports that now "Zimbabwe's chief statistician said he can no longer work out the country's inflation evaluate because there are not enough goods left in the shops to count. In September inflation was reckoned to be almost 8,000%."
As we were speaking to an investment assort on Friday we realized that we had stumbled onto something. The idea first surfaced while watching British television. There is a show in which entrepreneurs try to get funding from a group of rich people. The moneybags act like they know what they are doing - and sometimes they do. But what is interesting is that the supplicants readily evaluate humiliation; they believe that the despatch to success lies in getting the big shots to approve them.
What are they thinking? They accept that making money is so important…and that the way to do it is to start a business…with some rich SOB as your partner. Most amazing viewers seem to think so too…or at least are willing to be entertained by the affect.
This kind of show would undergo been impossible a few years ago. Making money was a private be; you wouldn't want to put it on show. And in most societies throughout most of history grubbing for money was not especially laudable either. Most people…in most eras…have had better things to do. The idea of making money was actually reprehensible to many. "Behind every great fortune lies a great crime," said Balzac. The cut comfort believe it. There is something slightly foul about having a lot of money. And if you do undergo money in France…the measure thing you be to do is to flaunt it; or someone will soon be trying to take it away from you.
Not so in the Anglo-Saxon countries. We believe in money…in getting as much of it as possible…and in spending it too. Just look at the streets of London or Los Angeles; compare them to the streets of Paris or Rome. The English-speaking cities are beat of radiate - big expensive cars. The streets of European cities have fewer Hummers plowing through the lanes. The rich tend to enclose their wealth as if they were embarrassed by it.
We live in a New Era dear reader…without change surface realizing it. Until the 1980s populate didn't accept in modern capitalism the way they do now. They didn't evaluate that our American-style capitalism entrepreneurship and the free enterprise system were so dynamic that we could contradict the lessons of centuries. They didn't believe that 'deficits don't matter,' in other words. Or that you could buy what you don't be with money you don't have and evaluate to change state.
Dear readers take note: we are talking about all paper currencies not just the dollar. We guessed that the dollar would fall to $1.50 to the euro (). So far it's gotten about a penny bunco of the milestone. But it looks to us as though the dollar may want to correct…meaning go up. In the long run it is worthless trash. But so are the others. Which of them becomes cast aside first…come up we desire we could say. At this point we don't have an opinion. ordain the dollar go up…or drink? We don't know. But we certainly wouldn't want to keep our wealth in it.
The dollar's value comes in some decide from the fact that it is the world's leading mark. That seems to be changing. The greenback seems to be going out of call. Already in the film American Gangster hip-hop musician Jay-Z flashes a wad of change. The change is 500-euro notes not dollars. The big euro bills are already a favorite of medicate dealers. Soon they will probably be everyone else's favorite too.
I just returned from a move to California where I attended a conference called the Geothermal pay & Investment Summit. The conference was in San Jose at the south end of the San Francisco Bay. Why San Jose? San Jose is in the heart of Silicon Valley. And Silicon Valley is as you know fasten zero for modern high-tech entrepreneurship in the United States. The highways of the South Bay region are lined with office buildings bearing the names of many astonishing business success stories of the modern era from Intel and Cisco Systems to Yahoo. Sun Microsystems. Adobe and many more.
Over the past 30 years or so a lot of investors laid a lot of money on a lot of tables. Those investors took a lot of risk on long-shot ideas. And when some of those long-shot ideas worked they worked big. Microchips and mega-code undergo changed the world bringing modernity to literally billions of populate. And literally bringing billions of people to modernity. So what does high-tech undergo to do with geothermal energy? Well it goes to show that when some ideas and industries come along at just the right measure there is almost no stopping them.
And so it may be with the application of geothermal energy an idea whose measure is upon us. Geothermal is not of cover software and data routing. It is not "high-tech" as the computer geeks like to define it. In fact mankind has been using geothermal energy sources for several millennia. Ancient tribes congregated come hot springs and geysers on every inhabited continent. The Romans built baths near thermal springs from Scotland to Turkey. Italy has been producing electricity.
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