Business has been improving this quarter.
We aren't yet boiling up in an overheating planet.
Arab nations have overthrown oppressive regimes in Tunisia andEgypt, with maybe more to come.
On the "bad" side:
We got a
in Japan, coupled with earthquakes, and anuclear "issue" that may have really bad consequences for thatcountry first, but also for the planet as a whole since
doesn't gives much for boundaries.
We got a
declared against Libya. That wasn't the best idea intown. The Libyan government (you can call it "regime" but it keptthings in order for 42 years, which isn't too bad) had to deal withan internal crisis against internal opponents. France didn't budgemuch of its 'liberty' assets when it came to Tunisia and now, it goesto war against Libya with whom it is (soon was) doing business. Notreally making sense to me, except that France and the US like to
, and Libya has plenty and doesn't obey general marketrules. This fact alone drives most of the western countries crazy.But it is no reason to bomb them.
Also, Europe and the US are
and I wonder how they willfinance this war on the long term, especially when facing a wellfunded enemy who can call upon the Arab world for supportagainst "the new crusaders." That will hurt and I personally thinkthat Pandora's Box is now open!
And to conclude this, let’s not forget the
crisis on fiat currencies.
lndeed we are now looking at a massive race to the bottom withQE2. We even see funds with the underlying currency being gold.As a 'Barbarian relic' gold is making a huge comeback. Well, youjust cannot erase 5000 years of history like that, especially whengovernment is deep in debt and not to be trusted to take the harddecisions. With politicians focusing on the short term of the nextelection and the interests of their direct voters, myopia is runningthe show as usual.
But all of these events are telling us one thing and it is thatdisruptive change is in the house (as it always was, but not sorecognized) and the ability to cope,
, is a skill todevelop and cherish.
With the local public sector left in limbo,
where is one to look for growth and business success
The response lies in either the private sector or on the publicsector aiming for large scale political reform and integration.
The IMF and EFSF are helpful but only if used to stop kicking thecan down the road. But payback time may leave room for tightercontrol and force local government to comply with larger scalepolicy. Good for private sector companies with a clue on how todeal with change.
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