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Posts Tagged ‘capital’

Quick! What type of world did you imagine when you were a kid? Did you foresee yourself darting about in a hovercraft much like the cartoon family in the Jetsons? Vacationing on the moon? A lean, mean greener world? How is it that we find ourselves these many years, decades even, down the road and we’re still looking at a society that in so many ways is what it once was: the world that petroleum built? Decades after the Carter-era gasoline shortages, now with the prospect of $6 gasoline looming before us, we have little to show for our grand hopes and great visions. We’re still talking about moving off foreign oil even as the buzzword “energy independence” has become firmly entrenched in our lexicon. So little, so late.

What happened? (more…)

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The Man Who Foretold Our Economic Fate

Giving credit where credibility is due.

Charlie Rose:

How do you see the economy today? The world economy? Where are we?

Answer:

I think the financial system is extremely fragile. I think that you can see it in the volatility of currencies; you can see all sorts of weaknesses. I believe that there is an incredible amount of danger in things like the derivatives. I think that we are moving toward the outer limits of acceptable risk taking. … I think our financial system is dangerous and could create great problems for the real economy. …

Sir James Michael Goldsmith, billionaire financier, 1994; February 26, 1933 – July 18, 1997

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