Happy New Year friends.
May we be even happier in 2015 compared to 2014 and previous years.
Well, there are reasons for optimism, and here is my list of the
Top 10 global news of 2014
1. Economics 1, Cheap
oil.
Thank you competitive capitalism for reasserting yourself. OPEC cartelization and cronyism is boink, shale oil and gas capitalism is cool. We have entered a world of rising abundance. The on-going cheap world oil further affirms that.
That's for the last five years. Here is the chart for the last 45 years.
2. Economics 2, Inequality de Piketty
Inequality is good and natural, and Piketty and the UN, WB, IMF, ADB, governments, socialists are wrong to complain about rising inequality. If my statement is wrong, then I demand that my income should be at least 1/10 that of Mark Zuckerberg or Bill Gates, even if I work only two hours a day and drink and party 10 hours a day. Today's poor are better off compared to the super-rich 100 or 50 years ago.
3. Economics 3, No fiscal crisis and low interest rates
This is from The Economist magazine, November 20th 2014 issue. Fiscal crisis by many fiscally irresponsible governments (FIGs) in Europe and elsewhere in 2014, all they do is spend-tax-borrow-borrow more. If supply of credit does not keep up with demand forl credit and debts, interest rates should go up. This did not happen. Which means capitalism worldwide is adjusting and getting more efficient, producing more surplus that it can continue to bailout those FIGs with low interest rates even if they continue with their endless borrowings policy.
4. Politics Asia, Hong Kong protests and call for
democratization
To hell with you communism, hehehe. China communism and dictatorship is lousy; to extend that dictatorship to a former British colony that championed free trade, yes, unilateral free trade, is lousy too.
But as I argued repeatedly, freedom of expression should not curtail freedom of mobility of other people. Thus, I did not support prolonged occupation of HK's streets and thus, I support the clearing of those unoccupied tents that block major roads.
5. Politics Mid-east, IS in Syria and Iraq
Lots of violence and intolerance. Their big problem is that people, including their fellow Muslims in many countries, are getting more intolerant with intolerance and violence. Thus, while they gained prominence at the start, they later gained notoriety and condemnation later.
6. Politics Europe, Russia and Ukraine
Booo, Vladimir Putin. Military invasion and occupation is too taboo these days. Only dictators and insecure leaders would do that.
Now #1 above, cheap oil, is piercing huge holes on your dictatorial leadership. Fellow dictatorship in China is now bailing you out.
7. Climate, Climate extortion
$500 B a year of climate money from rich countries to developing countries? wow. Actually some extortionists are joking. While they demanded $100 B a year in 2009, revised the estimates to $500 B a year, the UN climate spokesperson suggested $6 trillion a year. Wow.
Money money money, always sunny, in the climate alarmism and extortion world.
8. Health, MERS-CoV and Ebola
One of the many faces of MERS-CoV victims in the Middle East, my sister in law, Gemma B. Oplas, In this photo, she was holding my elder daughter while they were in Bacolod City in 2010, her lone kid Lois looking on.
An ER nurse in a Saudi government hospital in Riyadh, she was taking care of a MERS patient who ironically survived, she was infected, she did not survive.
MERS-CoV, Ebola, dengue, HIV, H1N1 and other infectious diseases, are living and evolving microorganisms, They will keep evolving and spreading themselves. There is nothing we can do about them except have proper isolation system of victims, and have evolving treatment to evolving diseases. More science, more innovator medicines, less politics.
Horrible loss for Brazil, the host of 2014 soccer World Cup. After barreling its way to the championships, it lost to Germany 1-7, agghh!
But the common global excitement of Europe vs S. America in the Finals or semi-finals has been affirmed. I wish to see an Asian team in the finals someday.
Published by FNF PH office, this book reaffirms the beauty of classical liberalism, rule of law (not rule of men) and more civil society (and less government, less coercion).
Happy new year guys.
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