Jim Walker – Wealthy Nations (HK) –
Today, more than at any time since the fall of the Berlin Wall in 1989, there is talk of war.
Our thoughts have turned to war as well, but they aren’t focused on the geopolitics of North vs. South, Communist vs. Capitalist, East vs. West, Emerging vs. Developed.
Our concern is a type of war unknown in human history: a war between the young and the old, potentially between members of the same family.
The reason for this gloomy prognosis is that successive governments in the developed countries have promised the earth to ageing voters in election after election.
Unfortunately for them the promises are about to fall due and, in this age of social media, the implications for future generations – increasingly small future generations – will not be hidden from view.
These politicians and so-called economists have espoused and enacted policies that mean that the young have absolutely no chance of fulfilling their “obligations” ie, they do not have the ability to pay for pensions, public worker salaries, benefits and public spending promises that have been made on their behalf.
Only very few places on the planet can avoid this Armageddon. From our perspective, we are happy to report, Asia is one of them.