The worry is inflation is coming. No wonder with the amount of money injected into the system to keep us all drugged up and merry and happy in the middle of crunch. A lot of anything causes it’s value to fall. The value of money falls through inflation rising. Gold prices rise when inflation is coming.
America has additional non-Covid problems of race. 400 years since pilgrims and explorer landed their history of injustice and racial hatred echoes to this day – after all apartheid only ended (legally) not factually in the 1960s. (Brown v Board of Education saw the Supreme Court decide if a little black girl has the constitutional right to sit in a school next to a little white girl – because ‘all men are born equal’ wasn’t clear enough – and you thought it’s hard interpreting Covid rules).
India has a spike in Covid. UK has Brexit.
But there is hope.
Let me quote you from Warren Buffet’s recent annual letter to shareholders and it applies to the people of America, to the people of India and the UK facing Brexit. ‘Money will always flow toward opportunity, and there is an abundance of that in America. Commentators today often talk of “great uncertainty.” But think back, for example, to December 6, 1941, October 18, 1987 and September 10, 2001. No matter how serene today may be, tomorrow is always uncertain.’
Do not bet against America, UK or India. I’ve worked and studied in all three. I have studied their history and met their people. Do not bet against them.
Or as the world’s richest man puts it, ‘Throughout my lifetime, politicians and pundits have constantly moaned about terrifying problems facing America. Yet our citizens now live an astonishing six times better than when I was born. The prophets of doom have overlooked the all-important factor that is certain: Human potential is far from exhausted, and the American system for unleashing that potential – a system that has worked wonders for over two centuries despite frequent interruptions for recessions and even a Civil War – remains alive and effective.
We are not natively smarter than we were when our country was founded nor do we work harder. But look around you and see a world beyond the dreams of any colonial citizen. Now, as in 1776, 1861, 1932 and 1941, America’s best days lie ahead.’
Indians are not less resilient and inventive than in 1947. British are not weaker than in 1945.
Incidentally you know what makes him consistently the world’s richest man, and also the world’s largest philanthropist at the same time. He knows what motivates people in business. Do you know what it is? Bet you don’t. In a new book called ‘Drive’ by an academic researcher, studies show that what motivates is not money. Sure, in the short term for monotonous tasks it does. But for quality creative work money is not the driver. Experiments were done on humans, children and apes. Each given tasks they enjoyed without reward. As soon as reward was offered, their performance dropped.
Find people who in the words of the richest man, ‘Many of our CEOs are independently wealthy and work only because they love what they do. They are volunteers, not mercenaries. Because no one can offer them a job they would enjoy more, they can’t be lured away.’
And that is why the world’s richest man, an American, is gonna stay that way. You can’t get at his people!
