Zeev's Turnips - No Politics Message Board

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Strategies & Market Trends : Zeev's Turnips - No Politics

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To: Zeev Hed who wrote (91912)	7/8/2002 5:00:36 AM
From: limtex	Read Replies (1) of 99280

ZH - Well everyone keeps referring to this 66-82 period. But this was a very odd period indeed and simply bears no colorable relationship to the situation today. Why? 1. Soviet Union replaced by an incipient capitalist Russia. This is a double second being the first time in history that Russia has been free and capitalist. Incidentally I know personally many people now going to Russia to do business for their companies. This is not like ten years ago when I first started goign there. This new wave is different and the legal situation is gradully becoming workable. 2. Same sort of thing for China but much more so. The Chinese are the greatest capitalists in history. That is probably so becasue they are the greatest gamblers! They are alos among the mosat intelelectaully brilliant if not the most. Go to any graduation ceremony in the US and see who gets the honors. The difference here is that China is almost an entire World on its own. Go see how keen the are to learn English even in small provincial towns. To see how keen these yuong people are just to be able to string a sentance together tlaking to you on the street it is impossible to keep a dry eye. They have so little and all they want is to be able to speak English, because then they can get on in life because English is the language of business and these people can't wait to get into business. 3. In the late 60s andearly 70s we had the unpleasnat pehenomenon of OPEC. Follwing the Yom Kippur War whole economies in the West almost went bust. Britain had no electricity for three days a week and they had a banking clooapse that the Bank of England had to create the "Lifeboat" to help stabilize the entire Biritsh financial system. This was an actual calamity of proportions that makes todays problems look like a walk in the park. There was inflation at the highest levels the West has ever known and the Cold War was in full swing. 4. The tech revolution hadn't started. The tech revolution has now just started and it is getting stronger. As a techie I am just amazed at what we have coming down the line. More goodies every year to save lives, make things more efficient learn more effieciently. I can't think of anything in the 66-82 period that is remotely similar to today. Best, L

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