Most days, I write something that refers to some shape or form of continued
economic Recovery, or even Prosperity.
It will happen, and probably as soon as people in positions of
power can convey one message to the world's citizens :
Globalisation has created a world where there are opportunities,
but the necessary legislation and co-operation does not yet exist.
The first thing is that Value should be preserved.
For example,I saw on Bloomberg few days ago that they are demolishing
good houses in Chicago neighbourhoods. If banks allow houses which are
physical wealth to be dismantled and sold as building materials at 15cents
to the dollar, they are effectively destroying wealth. Better may be to sell
the houses at say 50cents to the dollar? I think you would get a lot of
interest from other States for re-housing or from Overseas, people with
relatively less money than Americans but with lot of ambition and very willing
to work hard and prosper, if they can get the GreenCard.
President Obama would like to attract a Trillion Dollars of Investments from
Overseas. If the legislation on Immigration policy is modified to encourage
people to come and settle in U.S., that won't be a problem.
People will come and buy houses, open up disused factories and workshops
and offices, live frugally and work hard, and help push up the GDP.
After each wave of immigration, most countries experience a growth in GDP,
money coming in, wealth being created through hard-work and enterprise,
new blood reviving the economy.
What do you think? Does the above make sense, or not?
Please write me your views.