Dear Readers:Some brief observations are in order. I believe that you will find them thought-provoking. More than this, I hope that you will take appropriate action in order to ride over these changes instead of being crushed by them.
1. The US dollar will be virtually valueless in exchange against other currencies by 2012; the US will be beset by hyperinflation. Foreign investment in, as well as ownership and control of US industry and the capital markets will be predominant in the private sector, while government ownership of significant stakes in formerly private sector businesses (principally large employers) will increase dramatically. The US will have become a trading nation, and not an exporter or manufacturer;
2. Seven in every ten US residents will be working for either a foreign-controlled company or for an agency of the US federal or state governments;
3. Capital, wealth and innovation will be leaving the US and going primarily to EU member nations and to some Asian countries. The US rapidly recede in terms of its influence as an example and a thought leader in the world;
4. The fortunes left to be made in the US will stem from: scientific research (stem cell, nanotechnology, biogenetic engineering, Artificial Intelligence); internet communications and media, and in internet-based entrepreneurial enterprises. All major US industrial and financial service companies are already making inquiries and inroads into becoming re-domiciled in other, more business-friendly jurisdictions;
5. Substantially all aspects of private life and commerce will be rigorously government-controlled.
Here are some recent articles worth reading. I hope you will find them alarming:
AP Sources: Obama wants Fed to be finance supercop
WASHINGTON – The Federal Reserve could become the supercop for "too big to fail" companies capable of causing another financial meltdown under a proposal being seriously considered by the White House.
By ANNE FLAHERTY, Associated Press Writer Anne Flaherty, Associated Press Writer – Sat May 9, 7:29 am ET
WASHINGTON – The Federal Reserve could become the supercop for "too big to fail" companies capable of causing another financial meltdown under a proposal being seriously considered by the White House.
More…
http://news.yahoo.com/s/ap/20090509/ap_on_go_pr_wh/us_financial_meltdown_supercop
Obama Calls for Curbs on Offshore Tax Havens
http://news.yahoo.com/s/ap/20090509/ap_on_go_pr_wh/us_financial_meltdown_supercop
Obama Calls for Curbs on Offshore Tax Havens
WASHINGTON — President Obama on Monday called for curbing offshore tax havens and corporate tax breaks to collect billions of dollars more from multinational companies and wealthy individuals.
The move would appeal to growing populist anger among taxpayers but is likely to open an epic battle with some major powers in American commerce.
With the proposals he outlined at the White House, the president sought to make good on his campaign promise to end tax breaks “for companies that ship jobs overseas.”
Author's Note: Both of these moves, while seemingly just (and punitive), as well as appealing to the large angry US Populist contingent are doomed to failure. These negative inducements have proven, throughout history, to be both counter-commercial and counter-employment. They have never been helpful, although they have always been politically expedient. The populace of any nation always likes to see someone (or some class, or some race) punished for whatever misfortune has befallen them. These have always created a "feeling of justice fulfilled," which has been short-lived and tragic.
Positive incentives to small and medium-sized companies, on the other hand, have always been economically stimulating. They create commerce, jobs and productivity. Sadly, the demonization of American business, in general, has created a political environment where objective, constructive problem-solving has taken a back seat to placing blame and meting out punishments.
If you are a US citizen or Expat, you might want to start reading the FINANCIAL TIMES in order to get a better worldview. http://www.ft.com/world.
Faithfully,
Douglas Castle
THE GLOBAL FUTURIST
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