Anyone who has not been hiring young Asians has no clue how cultured and curious they are. Their American counterparts have seen life as a perpetual spring break interrupted by brief episodes of work, and are simply in no shape to compete. Spengler GoldmanIt is easy to see how the psychology of the US economy changed as soon as it was obvious that Obama was likely to be the next US President. The stock market was the first to slide, but the rest of the US economy began to slump almost immediately. The graph below shows how quickly Obama has moved to turn a cyclic recession into a semi-permanent depression via wholesale corrupt spending and policy.But you knew all that. Here is the bad news: in terms of numbers, the talent that will be needed to build a new prosperity does not exist on the American or European shores. No, the talent in terms of numbers, is in Asia.
Wealth comes from sweat and smarts. Here’s factoid for you: China has 60 million elementary and secondary school students studying piano or orchestral instruments and playing classical music. America has 30 million students, total. China has classical music students at twice the number of all American students waiting in the pipeline to join the job market. Add to these the smart Indian kids who will be graduating from India’s technical institutes with the world’s sharpest math skills, and it seems likely that during the next five or ten years, a good 75% of the best-qualified job market entrants will come from China and India. ...By zombies, Spengler Goldman refers to the Obama Zombies, the total morons who elected the naked Messiah and who continue to back his suicidal policies. These zombies -- whether in the media, academia, financial industries, or ethnic ghettoes guarantee the continuous decline of the US economic future.
...If you are a smart Chinese or Indian entrepreneur, are you likely to get richer by moving to the US or by staying at home? Emerging market equities are a far more interesting proposition than the US stock market under Emperor Obama I. Bonus restrictions? Compensation caps? They never heard of them in Mumbai or Shanghai.
America isn’t getting the immigrants any more, that is, the top-of-the-line human capital. As China reorients its economy towards domestic spending, America won’t get the capital, either. America isn’t going to crash. Unless it changes course, it will slowly sink into the mud, like England did during the 20th century.
Equity investment is worth considering in China and India. China’s doing a great job of providing a serious stimulus, and India’s Congress Party victory puts a very qualified Prime Minister into power. It’s a snooze here in the Republic of Zombies. _Spengler Goldman
Asia has the talent, and talented Asians still have the hunger to build, create, and transform.