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Strategies & Market Trends : Currencies and the Global Capital Markets -- Ignore unavailable to you. Want to Upgrade?

To: Chip McVickar who wrote (360)	7/15/1998 12:48:00 PM
From: Robert Douglas	Respond to of 3536

Chip, Don't get me started. If you asked me these questions at a party, my wife would probable poke you in the ribs for giving me a forum for my ideas. I will try and be brief. <g> The 20th century, I believe, has been the century of triumph for capitalism. It was during this hundred years that the capitalistic economic model clearly proved that it was superior to a command economy. Think of everything that has happened and you marvel that it all took place in 100 years! Sure there have been horrible problems, but none of them have succeeded in derailing this massive trend toward wealth creation. I believe that all the problems we focus on today will be forgotten 10 years from now. The reason for my optimism is one over-riding reason. THE MARKETS ARE IN CONTROL. If some leader in a country makes a stupid choice, the markets will punish the currency and the equity markets. Look at what just happened in Japan. The party in power raised taxes during a recession. How much more stupid can you get? The result is just nothing short of revolutionary, as Japan has thrown the bums out! Every country in this world desires wealth and every country sees the path to riches. It's too late to turn back because the genie is out of the bottle. The wealth that will be created the next 10, 20, 50 years will be enormous and, in my opinion, is unstoppable. Sure we have some hurdles to leap, but nothing like we already have. The decades to follow will be fascinating to watch. I predict the pace of change that Chip chronicled will accelerate even more. Much more!