ghpacific
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In ‘Escape from Camp 14’ about North Korea, there is a reference to the inability of NK to get reinsurance policies from Western insurance giants due to their history of staged accidents. (Apparently, this is how the Kims financed their nuclear program and mansions).
I guess if you can’t trust a country/fiefdom, what chance do individuals have? :whistle:Nicole, thank you thank you thank you for this synopsis.
Nothing has shaken my economic views as much as your simple statement “given that demand is not what one wants, but what one can pay for” (which I have written down to share with everyone I know that seem to have drunk the koolaid of a guaranteed ever expanding, ever improving lifestyle.)
I quit reading TAE for months as I had high hopes the Mayan Calender was gonna create a major reboot and because most of TAE is WAY over my head. However, this 2013 primer really helps define the scope and intent of your and Ilargi’s warnings.
Demand having been indelibly re-defined, I would like to also share another epiphany I had when listening to Amy Chua (of Tiger-Mom fame) give a lecture regarding the success of the Roman Empire because of its program of ‘tolerance’ (as well as ‘romanizing’ conquered people). I realized for the first time that tolerance is NOT a positive attribute, but is actually a means of gaining some advantage while still detesting the other party!
So armed with these 2 rather strong eye-opening examples of improper, working definitions, I have to wonder what other mis-assumptions I have that are limiting my worldview and choices.
In the meantime, NPR is running a series of broadcasts that compares Puerto Rico to Greece. Seems to be getting awfully close.
