Alan Green$pan, saviour of the world. He's managing the greatest currency ever, which is serving more people than ever by a long way and to a vastly greater volume of transactions than ever.
Just as Argentina and Russia have a lot of US$ swirling around their economies, a lot of other places have too.
US$ swirl is like English language spreading around the world. People adopt the lingua franca of language, money, technology, music and fun. It makes life better. The little cultures like Maori have little value, lose ground and are subsumed by the biggies which are themselves morphed into a global style.
Uncle Al is doing a great job of managing the currency through the globalisation process while large scale disruptions jolt the financial systems.
He's onto this aspect too: <"Something is going on," Greenspan said. "At a minimum, it is confirming that the shift in growth of the rate of productivity subsequent to 1994 is real.">
One of the things which is going on is cyberspace linking millions of brains and data, enabling rapid capital allocations and corrective action to technological, financial and other data. That is of huge importance. What people do is think and our thinking ability has taken a quantum leap since 1994. It's the biggest deal ever, making the industrial revolution look like children in a sandpit. Thinking involves ability, experience, knowledge, and a means to react having thunk. Cyberspace is the happening place for thinking.
Something very, very big is going on and it's called thinking. Soon, we won't even have to bother to do our own thinking because It will take over most of that for us. We'll just have to play golf and install fibre and transducers where instructed. Message 17449615
Mqurice |
