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A Wealth Economy

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Joined: 20 Mar 2006
Posts: 1273
Location: Kent (East Hill), WA

PostPosted: Thu Oct 26, 2006 3:18 pm    Post subject: A Wealth Economy Reply with quote

One of the books that most shaped my thinking is The Coming Global Boom by Charles Morris.

Published in 1990, just after the massive stock market collapse at the end of the 80s, Morris correctly predicted almost every trend that would follow. Low inflation, low unemployment and high productivity...all of it dead on accurate during a time when most sages were glooming and dooming about runaway inflation and the end of America.

The great news is Morris book was a 30 year projection, and we've only just come through the first half of it. It gets better. We're about to go into an era of unheralded wealth and prosperity.

Right now, many are seeing the deflation of housing, and thinking how poor it makes them. But, in reality, it's releasing tons of riches from unproductive investment, back into circulation for salaries and growth. The message: yes, you're house just lost 25 percent of value, but your annual income is about to double.

The forewarnings of this wave of wealth are the numerous stores about billionaires with...well, all this time on their hands. Back in the day, just getting to be a millionaire was all you had to do. That was didn' thave to do anything else, just be a millionaire. Who's that guy? Oh, he's a millionaire. Wow.

Now, being a person with a billion dollars isn't enough. You have to launch yourself into space for a $20 million. Or start a great Foundation and put all your money into it. Or else get elected to something (aren't the rich people supposed to put up other people for election to be their they want to do the job themselves...sort of like in Green Acres where Oliver the lawyer wants to get back to the land!)

And these billionaire guys are just the start. Once houses go back to being sold for $25,000, even the two income couple working at Walmart is going to feel as if they could spend extra time on the weekends jetting off to Europe, or starting a neighborhood charity or dressing in superhero costumes and performing some noble act (I don't know where that came from, but you know those rich folk.)
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