We live in a society that wants immediate gratification and that expects to see immediate change. It makes it very simple to manipulate them as they do not look into the distance and many things develop overtime. It is also a society where some changes happen in seconds, the stock market can do that. Because of computer trading, we sometimes see what is called a "Flash Crash"; but, these are merely what I refer to as temporary volatility moments, after them the market usually resets. What is much more important are the long term trends. I want to try to put this into perspective and give some current news stories.
The Independent - Watch out for the hot flushes (a few billion years away): Earth enters its mid-life crisis. Now whether you believe in God, we all agree that one day this world will end. The article says the earth has about 4.5 billion years left.
The Los Angeles Times - Banks pushing for repeal of credit unions' federal tax exemption. I don't think they understand how little respect people have for banks at the moment. After having received hundreds of billions in bailouts, they want to destroy credit unions.
The Guardian - IVF baby born using revolutionary genetic-screening process. Picking the perfect baby will be a choice in the future, actually, you can do it now and two families have. What is the long term impact of this. We won't see it for a decade or so; but, it will have an effect. They can screen out somewhere around 250,000 different genetic "defects". Imagine a world where 250,000 different varieties of humans living today will no longer walk amongst us. That lack of variation will mean that we become more susceptible to extinction.
Wall Street Cheat Sheet - Will Bernanke Acknowledge These Risks with Big Banks?. Here is a line from the article, "“Goldman Sachs, JPMorgan and Morgan Stanley are no longer just banks — they have effectively become oil companies, port airport operators, commodities dealers and electric utilities as well,” reads the letter sent in late June to the Fed chairman. ‘‘Such a dramatic intertwining of the industrial economy and supply chain with the financial system creates systemic risk.” Calling the big banks “sprawling global entities,” the lawmakers wondered whether the Fed was investigating the damage the current system could cause." See that word, "systematic risk", whenever you see that you need to read the whole article.
Yahoo - Reuters - Government to assign email addresses to all Iranians. Look here, how interesting, everyone getting a personal e-mail address for life. Watch it, it is coming to all nations.
The Telegraph - EU plots transatlantic bank regulator. Again, more infrastructure being put in place to reduce national sovereignty and increase international regulation. It will not happen in a day; but, it is coming and the rules have already been written. It may just take sometime for the systems to be finalized.
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