Posted Jan 16, 2014 by Martin Armstrong
Trading has been perhaps the worst in 2013 because of this constant domestic myopic perspective. Making the transition to comprehending the intricate movements of the global economy and its inter-connectivity is honestly like making the transition from believing the world is flat to a sphere. You just cannot rig the entire world economy. You have to become a “real” trader with “real” analysis. Even trading profits at Goldman Sachs plunged 21%.
It took the Fall of Constantinople in 1453 to send the scholars fleeing to the West where they set up schools and began teaching the primitive and superstitious Europeans the meaning of life. It was no coincidence that Columbus grew up in Genoa located in Northern Italy and was exposed to this knowledge. Yet he could not convince the Italians to fund his voyage and had to turn of Spain where Queen Isabella funded his dreams.
Welcome to the new age of Internationalism where domestic analysis and politics is as primitive as the old superstitions that plagued our thinking process and retarded our economic growth.