Saturday, November 21, 2009


I have been saying this, over and over, for years,
and even though it just seems to generate jealousy, resentment and anger,
instead of anyone simply following my advice,
I will say it again:

Over the next twenty or so years,
the USA is going to become the "West Virginia" of China,
meaning that we will become impoverished
and our major economic activity will become the mining and exporting of coal.
Those who do not own it will have to work in the mines.

Here is a wonderfully-written synopsis of
economic events in the USA and the world over the last 30 or 40 years,
written by a Canadian banker ... it is long, very colorful, and worth finishing, imho:

The Power of Zero

"Anything which cannot go on forever, will stop."

Addendum, Nov. 23

This from Reuters today:
"the latest official Chinese customs data showed coal imports rose 219.5 percent from a year earlier to 11.14 million tonnes in October."

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