More Brilliant European Cooperation
It’s starting to look like the brilliant diplomacy that lead to the first World War.
Ministers have been working for months to avoid this, and in a global economy, this is not a small event. But they could not hammer out an agreement.
If there is an upside to this, there will be more investment in the US, but the economic floor could easily tilt the other way, much like the housing market in the US, forcing world governments to get their financial house together very quickly.
The problem? Wealth is either generated by the rapid movement of transactions, or, it is generated from fossil fuels—as of right now. New industries need to emerge, and those cannot be government mandated. Rather, the scientific community has to join with venture capitalists to create new industry and technology. In other words, no wealth to put things in order.
But venture capitalists are hesitant to move, because they are not clear about what kind of financial environment the government is trying to create.