Friday, January 05, 2018

May prosperity continue in 2018 and beyond

Belated happy new year, readers and friends.

I think 2017 in general was a good year in terms of national and global prosperity (sorry pessimists). So I hope for more peace and prosperity, more wealth, less conflict and fake news in 2018.

Forget all types of alarmism -- "peak food" and Malthusian then Ehrlichian hunger alarmism, "peak oil" and oil wars alarmism, HIV/AIDS alarmism, NCDs (non-communicable diseases) alarmism, climate alarmism (less rain or more rains, no flood or more floods, we send more money to the UN and governments), poverty alarmism, inequality alarmism, etc.

I observe that the world has entered a period of rising prosperity and less war since about 2-3 decades ago, and the pace of global prosperity is rising faster per decade. Before, the poor ride cow de carabao or bicycles, now the poor ride motorcycles or e-bikes or 3rd-hand cars, or at least commute in air-con buses and vans.

This chart is from The Economist.

From the Financial Times, Dec. 30, 2017:

Global stocks ending bumper year on a high
FTSE All-World index gains most since 2009 as economic activity accelerates

"Global stocks this year enjoyed their best annual performance since the post-crisis (2009) recovery, as accelerating economic growth across the world helped power several major markets to double digit gains... The biggest driver of the roaring stock market rally has been the accelerating growth in the US, Europe and Asia."

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