Wed, Jul 31, 2013 - Page 8 News List


It is important to remember that “primitive” rural societies existed on the back of farmers who grew enough food to feed their families and expand production toward their neighbors in a barter economy. Cheap oil and rapid industrialization have been at the core of the world’s four-decade expansion and, along with climate change, it is rapidly coming to an end.

In other words, if China — the world’s second-largest economy — bans any teaching against the inevitable reversion to the mean, it is only going to set itself up for the biggest face-palm failure of all time.

As time marches on and mistakes are revealed, a major correction in optimism is warranted. I was distressed to learn that 10 percent of Taiwanese workers are working in China — I hope they have an exit plan.

As I have said many times before, buy gold today to protect yourself from insane politicians and bankers.

Torch Pratt

New Taipei City

This story has been viewed 1880 times.

Comments will be moderated. Remarks containing abusive and obscene language, personal attacks of any kind or promotion will be removed and the user banned.

TOP top