http://www.marketwatch.com/story/france-signals-slow-death-of-sovereign-debt-market-2012-01-18?link=MW_story_popularExcerpts:
".....money will flow into (the) NEW safe assets.
What will those be? A mixture of emerging market debt, gold, corporate bonds and blue-chip equities. The switch from the developed world to the emerging markets is already well underway. Whilst developed world ratings are being cut, in other markets they are going in the other direction. Since 2002, Italy has lost five rating notches, and Spain four. Russia is up three and Turkey is up four. It isn’t hard to work out which is the better bet.......France reminded us that the sovereign debt market is now in long-term decline. The most important move for investors will be to make sure they get on the right side of that trade — and that means getting out of all developed world government debt, and into the new safe assets."
Where did THIS guy find his crystal ball? ..... Enjoy.
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George Buckley, chief executive of 3M, a St. Paul, Minn.-based conglomerate whose R&D spending is among the highest in the corporate world, told investors last year his company was expanding labs overseas "in preparation for a world where the West is no longer the dominant manufacturing power." He added: "Given the moribund interest in science in the U.S., this is strategically very important."
Since 2004, about 85% of the growth in R&D workers employed by U.S.-based multinational companies has been abroad, according to the National Science Board, a policy-making arm of the National Science Foundation, a U.S. agency. U.S. companies generally aren't closing labs at home but rather focusing their expansion abroad. The overseas portion of their R&D employment grew to about 27% in 2009 from 16% in 2004, the report said.
As a result of such trends, the U.S. lead in science and technology is "rapidly shrinking," according to the report.
And there goes the future of the USA. Do you think that congress in cooperation with the executive branch might address itself to this sort of problem, rather than the stupid s... that they seem to be most interested in? Sure thing...
(Well, of COURSE we wouldn't want to be "picking winners" or "throwing money at a problem". Much better to create conditions which inevitably will make the entire US a big time loser...)
Meanwhile we depend upon the Russians to get us to the space station. (Don't worry, private enterprise will eventually rectify this slightly embarrassing situation.)
Totally pathetic.
There has been disturbing anti-science trend in recent years in this country. This is really unfortunately. US has come to this point with a decided lead on scientific research and education.
Unfortunately, this is declining and the gap with China and others are shrinking. We have become a knowledge worker based society but if we cannot maintain this lead, we will suffer big declines in our competitiveness and will be more dependent on the outside countries and condition dictated by them. Science and scientists will always flourish somewhere where it is welcome and appreciated. One day, we will realize this and I hope it will not be late.
(Disclosure: I am an engineer)
Question: Would anyone care to speculate on a major source of the "anti-science trend"? Is there by chance any particular political perspective which has been quite influential during this very same time frame?
Regards and Respect- OJ