The billionaire, who chairs the world’s largest asset manager, kicked off his 2024 letter to shareholders by telling his readers it is “time to rethink retirement” if they want to dodge America’s looming “retirement crisis”
The billionaire, who chairs the world’s largest asset manager, kicked off his 2024 letter to shareholders by telling his readers it is “time to rethink retirement” if they want to dodge America’s looming “retirement crisis”
Most countries don’t have the resources in their borders to produce everything they need. They trade for it.
You can’t trade with countries that are unstable. You also can’t trade if the trade routes are under fire.
The best example of this today is Hormuz but it extends beyond that single resource. Think about how many countries contribute to make a cpu, and what would happen if that got disrupted. Suddenly all the mechanization advancements in farming become a little more expensive, along with everything else.
China is experiencing some of the worst labor shortages today, and Taiwan will be within the blast radius of geopolitical unrest. Every advanced cpu is assembled in Taiwan, and depends on resources sourced from nearly ever country.
Perhaps the paradigm of nation states isn’t suitable to our climate future.
Oh and tach nomads that just wander wherever, not paying into the nation they reside in are? Someone has to pay and a social collapse would destroy that idea real quick.
A strong local community can fill all the unmet needs we have been trying in vain to cram into the welfare systems of nation states.