Education is so important. A lot more than politics… unfortunately in Portugal we are losing this battle… we should focus on deploying a real strategy and less on politics or marketing big plans that are just promises that never see the day of light…
Interesting read that took me back to my economics degree.
In a nutshell, if you do not have the time to read this…
Long on Gold
Be careful with holding USD – it’s reserve currency attribute might be now even more at risk.
Most people don’t pay enough attention to their currency risks. Most worry about whether their assets are going up or down in value; they rarely worry about whether their currency is going up or down. Think about it. Right now how worried are you about your currency declining relative to how worried you are about how your stocks or your other assets are doing? If you are like most people, you are not nearly as aware of your currency risk and you need to be.
Marc Andreessen just wrote recently a great post about what society (US centric) should be doing differently… He is one of the best Venture Capitalists in activity and with a great view of what we need to tackle in our collective future.
In a word: build
In a couple of more words: if we build what is really needed – more and better housing, transportation, hospitals, universities / schools for all, we as a society will evolve.
Every Western institution was unprepared for the coronavirus pandemic, despite many prior warnings. This monumental failure of institutional effectiveness will reverberate for the rest of the decade, but it’s not too early to ask why, and what we need to do about it.
Many of us would like to pin the cause on one political party or another, on one government or another. But the harsh reality is that it all failed — no Western country, or state, or city was prepared — and despite hard work and often extraordinary sacrifice by many people within these institutions. So the problem runs deeper than your favorite political opponent or your home nation.
Part of the problem is clearly foresight, a failure of imagination. But the other part of the problem is what we didn’t *do* in advance, and what we’re failing to do now. And that is a failure of action, and specifically our widespread inability to *build*…