In our still fragile post global credit crunch fiscal environment, do our decision makers still know the difference between wealth creation and wealth manipulation?
By: Ringo Bones
The concept of wealth creation can be a paradox in itself. Everyone is clamoring for his or her own piece of the pie, unfortunately, someone has to make it – and believe me, most “everyone” is not cut out to be able to make a good pie. Thus bringing us back to the paradox behind wealth creation, that is we cannot share the wealth until someone – and there’s not a lot of them just lying around – creates the wealth. In short industrial production of quality products produced under safe and environmentally sound working conditions were the workers are well cared for has been – and always will be – the surest way for a sovereign country and / or economic entity to create real wealth and prosperity.
Even the folks who initiated the Bolshevik Revolution back in 1917 understand the concept behind wealth creation that enabled the supposedly “capitalism clueless” Soviet Empire to last a little over seven decades. I mean have you ever seen those Soviet-era posters extolling the virtues of industrial production? Well, just about everyone got this down to a science. Without which Wall Street and other centers of the global stock market would be nothing more that over-glorified centers of wealth manipulation. One that relies on hedge funds, naked short-selling and overly complex derivatives to manipulate the redistribution of vanishingly small amounts of wealth – especially if the primary means of wealth production, as in the manufacturing industry, happens to go awry.
Back in 2008, it was those same over-glorified wealth manipulators that sent our global economy to the brink of collapse. Unscrupulous manipulators that blew smoke up our asses in their “successful” attempt to convince everyone about cheaper-priced goods are better. And product quality is a ting of the past and is now rendered irrelevant. Unfortunately, their marketing spin managed to convince almost everyone that cheaper goods are indeed better and that quality products belong to the distant past and are thus irrelevant - thus endangering the livelihoods of skilled manufacturers, especially in the United States and Germany, former centers of high quality goods manufacturing. In short, our insatiable demand for cheap products produced under slave-wage and dangerous conditions have endangered the wealth creation capability and / or potential of every established and emerging economic entity around the world.