Last night I participated in a podcast with Michael Surkan of The Optimistic Bear.
We discussed a number of issues ranging from international banking, the inflation/deflation debate and health care to generational cycles and the secular changes I see developing in attitudes toward risk. You may listen to the full interview in the player below.
There were some other issues that I was hoping to touch on. For instance, I did come across as quite the pessimist in the interview. In fact, I see myself as more of an optimist. I view the contraction of credit and falling asset prices as positive, not negative. In order for organic productivity-inspired growth to occur, the dead waste needs to be cleared first. So I don't view the onset of depression as "armageddon," rather as the first stage to future prosperity.
If time were never an issue, I could have also elucidated some areas I believe will be kind to investors in the intermediate term. I am very positive on the prospects of South America. Much of the continent has far more favourable demographics than other emerging markets. And from a generational perspective, many nations have put their dark histories with dictatorial governments behind them (eg. Pinochet). Chile, Colombia, Uruguay, Brazil, Peru and eventually Argentina (when they get their house in order) should all be ideal investment areas over the coming decades. I am also very positive on the eventual application of nanotechnologies, and I believe this will be a spectacular area of growth once the required investment resources are freed from their current wastefulness.
I'd like to thank Mike for being a great host and having me on his show. Hopefully my readers find it to be worthy of their time. It was the first time I have attempted something like this, so any feedback on the subject matter or even my communication abilities would be much appreciated!
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