Thursday, December 02, 2010

How Do We Stay Rich?

I am not a Bill Gross fan but I agree with his assessment in this CNBC interview, we are doing the wrong things to ensure a prosperous future. You can get all enbroiled in the politics of the day, but you have to ask yourself basic, but big, questions about our future. What will we do? Will we seek to manufacture things (China wants to manufacture pretty much everything)? Where will we get our energy (Brazil is drilling at full speed as far as the eye can see)? Are the incentives there for the next Apple, the next Google, or heck, even the next JPMorgan? Not just how many jobs will we create but what kind of jobs should we create? Will we be a nation of "technical support" supporting an ungodly expanse of modern, productive technology infrastructure and assets or will we be a nation of lawyers and "diversity consultants"? We can't stay rich just suing each other or concocting diversity policies for companies that don't employ anybody. Something to think about. And yes, until some good answers start popping up, capital is going overseas as I have said many times.


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