Globalization is a Mess

Globalization is a Mess. If we look at the whole world now we see a de facto world capitalist state powered by the making of money. The problem with this is that the people that have the most money have no vested interest in keeping the poorest half of the world's population alive. So, in all likelihood many many will starve as the serious corrections caused by globalization are slowly corrected by world economies during this century. As Greenspan has said it is likely many many banking institutions will fail worldwide until the world figures out how to deal with the complexities of multiple currencies, multiple markets, multiple prices of the same goods etc. It is far more complex than I can even pretend to imagine at this point. Even geniuses like Greenspan only watch the tips of the financial icebergs and have to guess what is really underneath it all. Just remember these financial icebergs are 9/10 out of sight below the water line. That is why we are watching investment businesses like Bear Stearns sink like ships from the many hidden financial icebergs just like the Titanic did.