The future of the West is East - in my opinion

The future of the West is East - in my opinion

It used to be very simple to see where the next big economic wave would come from, we had in the 80's the introduction of CAD CAM, design innovation utilising technology, with such companies as Intergraph, Computer Vision, Calma to name but a few these were all innovators of this technology. However, as the decade progressed so did advancements in technology which eroded the hardware prices of this lucrative market, great for the consumer.

What then emerged after the recession of the early 90's was a flourish of telecommunications companies, if you like a revolution, mobile telephony, data etc with this came the explosion of the Internet which was made easy by the introduction of SDH/Sonet technologies, as this technology gave birth to this explosion in telephony and data products. What has happened since is simply put nothing, there is no new innovative wave emerging to take over from the saturation which has occurred in telecommunications, so big was this explosion as it affected masses worldwide!  As a result we all became ahead of ourselves in our race to get wealth, property exploded, equity exploded etc.. but what emerged was that the great financial cities / sector saw this hunger and fed it to the point of extinction in effect exploited this monumental growth and appetite. But, unlike Telecoms, CAD and all the other great innovations the financial sector did not own the money they were loaning, so which was the most greedy! The people who took the loans or the financial sector.

What happened here in my opinion was that governments lost control of their economies as they were hijacked by greedy banks, speculating on this boom, globalisation fed from Davos no doubt had a hold on what we all did next. So what has emerged since is no longer an innovation drive but a safe haven recession, growth, as few expect the great currencies of the world to survive intact through the re-building of their governments wealth. Hence, the peoples race towards gold and everything that glitters as a safe haven.

I would now go so far as to say that several areas will come to the fore, two areas in particular; over the course of the next decade; Inflation will be allowed to get out of control in the western world they need to demean the debt and as soon as they have worked a way through this then this is what you will see. This gives rise to the view that Gold will continue its advance. Alongside that will come the development or extraction of Shale oil. The world is rich in this resource, this way the west can keep a lid on the only real resource which dominates its affects on oil based economies, this will allow the west to emerge from this crisis without too many scars. However, those heading for pension years which I am one then I’m afraid to say you / we are screwed.

The other area which is certain is that at some point soon 5-10years, there will be an explosive growth that will make the other growth sectors pale into insignificance. In short despite all the wealth that has been created, still few of the world’s population have enough to live on. These people are in Asia, they have embraced technology, they have prostituted themselves (for poor wages and conditions) over the years to the manufacturing thirst of the west!  What has emerged is that they are becoming richer which is slowly feeding on itself. When this happens watch this space. 

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