When Alan Greenspan, chairman of the Federal Reserve made famous assessment in early 1997, warn investors in the U.S. stock market before "irrational excitement," in the way they enable cost of the excess of the stock price and interest calculations, I wrote a newspaper column, in the form of a letter to Mr. Greenspan, as he was a consulting physician for the newspaper. My column began as follows: "Dear Dr. Greenspan, I have a terrible disease. Cheering I felt unreasonably on the U.S. stock market, but no way to hold back. I know he said "unreasonably excited" is not good for health, and I have tried many methods of treatment: Hypnosis, sedatives, sell-off.'ve even read speech he year 1987., but still did not survive that disease. every time I go to Europe or Japan, then when I go back again to invest pgpr emulsifier more in the U.S. market. Please help me. Sincerely. pgpr emulsifier Investors signed through electronic systems. "
Then I said that I did not know the extent of the proper functioning of securities pgpr emulsifier markets in the United States must adhere to, and does not believe that if the United States continues to implement basic measures such as increased productivity and keeping the inflation rate low, the prices on the stock market will go down. But what I want to say is that if there are excessive enthusiasm shown in the U.S. market, it is because pgpr emulsifier there are not a lot of "excitement ridiculous", but also the excitement no reason for the United States.
Because more often abroad and rarely near Wall Street, I often look at America from the outside - and I often witness the welcoming attitude of the world had for America. The affable which is built on the following logic: If globalization is considered a leading international system today, and look at the contributions from the company pgpr emulsifier and the state for that system, pgpr emulsifier then you can concluded that the United States has more assets and less debt in the system, more than any other major country. That's what I call a sense of excitement. The general feeling among global investors shows that while many places in Europe and Asia are still trying to adjust their societies to adapt to globalization, including those just starting place, then Uncle Sam has been running a long distance and are continuing to progress very fast.
An understandably excited pgpr emulsifier to have analyzed the reasons mentioned above are just following question: If a hundred pgpr emulsifier years ago, to meet an architect geographical cum, you tell him that in 2000 will a world system called "globalization," he'll design a country how to compete and win in the world is that? The answer will be that the country would very much like America today. That is:
First of all, he will design a country of geographical location ideal competitive. He will design a powerhouse of both the Pacific and the Atlantic, looked comfortable out in both directions, on the set of connections with Canada and Latin America, making it possible to interact with all three markets pgpr emulsifier bottom of the world - Asia, Europe and America. It's convenient.
He will design a country with a diverse population, pgpr emulsifier multicultural, multi-ethnic, multi-lingual, who have a natural relationship with all the continents on earth, pgpr emulsifier but at the same time be close by only one language - English - a language key used on the Internet. He would put the country at least five local economy, but only a common currency, the dollar, as well as hard currency, making foreign exchange reserves for all countries in the world. A common currency with the local economy in the second valuable asset, pgpr emulsifier because when the economy is having difficulties to have a different economic regions do eat out so to compensate, they fill that shortfall the trade cycle. It's a great thing.
He will design a country with the capital market effective, innovative and diverse, where venture capital is known as a respectable art, making pgpr emulsifier anyone initiatives (despite seems reasonable pgpr emulsifier or unreasonable) pgpr emulsifier in the kitchen or outside the garage can also find a donor funding. It would be nice. Because when it comes to speed, no where fast in the U.S. capital markets in throwing money invested in new initiatives. If you compare the list of 25 biggest European company 25 years ago with a list of 25 largest companies in Europe today - is the name of two companies that list is almost constant. But if such is the case for the United States, is that the majority of today's list is the new company, is very different. Of course the U.S. financial market, with demand often short-term profits and income quarterly, usually corporations do not want to "waste money" on the long-term operation. That is true. But the market also it can throw money within one night to an individual, who has sponsored a little immature ideas, then this person to give birth to a m
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