Define wealth. Money, especially fiat money, is not wealth. It's merely a claim to wealth. If you go off and print loads of money, that does not mean you have increased wealth. Conversely, the destruction of money, say from the collapse in credit, does not mean wealth was destroyed.
I totally agree. Wealth as defined is the abundance of valuable resources or material possessions, or the control of such assets.
Early this year I spent some time in North and South Vietnam. What I discovered was these guys live on the smell of a fishy rag, surviving on nothing virtually. The majority scratch a living from just a couple of dollars a day. I've been dating an Asian lady for some while, in her own words she's middle class, reasonably wealthy. She as well ( but has been out of Asia 30+ years ) is extremely resourceful. She'll cook a meal from fish frames, recycles nearly everything, throwing out food is sacrilege. This is my take on it. The Asians and the poor will survive because they are resourceful, accustomed to hardship and can live on scraps. The rich will attempt to control the poor. Things could get out of control as the rich struggle and the poor attempt to survive without being further exploited. We have to work together, not via exploitation or corruption. In my opinion the USA in the recent past attempted to exploit its power, hence why we see the world at this present time in deep shit. Exploitation only works for a little while, then backfires.
If I would have been the pilot of the doomed Alaskan airline plane, I would have said to the passengers "There is a fatal problem with the plane and we will crash. Life and death is determined by God. If God wants you to live nobody can kill you. If God wants you to die, nobody can save you. I am not like world leaders.
Today I saw another TV program which reminds me of world economy. I have seen this program 5 to 10 times in past 3 years. Somebody is trying to say something again and again.
WARNING: THE FOLLOWING PRESENTATION IS CONTROVERSIAL AND MAY BE OFFENSIVE TO SOME AUDIENCES. http://www.stansberryresearch.com/pro/1011PSIENDVD/LPSILC42/PR