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Strategies & Market Trends : Currencies and the Global Capital Markets

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To: Chip McVickar who wrote (1069)	12/1/1998 6:19:00 PM
From: Frodo Baxter	Read Replies (1) of 3536

>His voiced concerns are directly related to your original question on the declining standard of living here in the USA and also in 40% [if not more] of the industrialized world. Remember, 80% of the worlds total population lives at or below the subsistence level with little education, medicine and food. This planet could not withstand the industrialization of the total population. Nor the capitalistic imprint of consumer heaven for everyone...... This is fatalistic bullshit and it is wrong. Read any book by Julian Simon, heck, even read some IMF reports on the global economy. Take some valium. FACT: World GDP is growing. FACT: World hunger is at the lowest percentage it has ever been, and continues to trend down. Production is plentiful. Distribution remains problematic because there are still a few tinpot dictators left in this world. FACT: Industrialization raises the standard of living. FACT: Capitalism is good. I would say, have some faith, but heck you don't even need faith. Just look at the data rather than spew dogmatic nonsense, promoted by flimsy evidence and even flimsier people. Soros is a funny bird. He is actually a libertarian, but his recent fixation on prescribing global economic solutions to temper the excesses of capitalism only encourages the notion that he is nutty and hypocritical. He also has a soft spot for pinkos; this seemingly has to do with some early personal experiences. Nonetheless, history has taught us that the communist ideology is every bit as dangerous, every bit as negating of human ideals, and every bit as wrong as radical nationalism. As for the Journal, why would I want a paper subscription?

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