Archive | Book Reviews

RSS feed for this section

Terrorism, Russia, and Geopolitical Concerns for the Decades Ahead

Over the past decade, the focus of the news media has been on Islamist terror organizations such as Al Qaeda, and understandably so. The September 11, 2001 attacks were the biggest acts of terror in history, and every American remembers well the site of the twin towers falling to the ground. It was a traumatic experience that set into motion a chain of events that culminated in the Iraq War in 2003.

But as devastating as the 9/11 attacks and their aftermath were, they must be taken in context. Al Qaeda, even were the organization to acquire contraband nuclear devices, has never had the ability to seriously threaten the existence or power of the United States. And all of the rhetoric about weapons of mass destruction aside, a nuclear-armed rogue state like Iraq under Hussein, Iran, or North Korea would likewise lack the ability to seriously threaten the existence or power of the United States. They could potentially destroy one or more major cities, kill millions or tens of millions of civilians, and severely disrupt our economy, but annihilate us? Not a chance. The only country today that could credibly be said to have that power would be Russia—though in the not-too-distant future, China may too share that distinction.

The most serious threat to world security and peace is not terrorism but great power rivalry. At least this is the view of Steven Rosefielde and D. Quinn Mills, authors of Masters of Illusion: American Leadership in the Media Age.

According to Rosefielde and Mills, “Conflict of the great powers, when it comes, is the greatest danger mankind faces. For this reason it is essential always to keep our eye first and foremost on the great powers.”

I appreciate a historical perspective. As I wrote in the April 2010 HS Dent Forecast, I truly believe that King Solomon had it figured out 3,000 years ago when he concluded that there was nothing new under the sun. Continue Reading →

Disclaimer: This material is provided for informational purposes only, as of the date hereof, and is subject to change without notice. This material may not be suitable for all investors and is not intended to be an offer, or the solicitation of any offer, to buy or sell any securities nor is it intended to be investment advice. You should speak to a financial advisor before attempting to implement any of the strategies discussed in this material. There is risk in any investment in traded securities, and all investment strategies discussed in this material have the possibility of loss. Past performance is no guarantee of future results. The author of the material or a related party will often have an interest in the securities discussed. Please see Full Disclaimer for a full disclaimer.

Read full story · Comments are closed

Geeks, Geezers, and Googlization

“What is a generation?” asks Ira Wolfe in his new book Geeks, Geezers, and Googlization. “A generation is a group of people who are programmed by events they share in history while growing up… a common set of memories, expectations, and values based on headlines and heroes, music and mood, parenting style, and education systems.”

I would agree with this definition, and would add that it ties in with the concept of generation gap. Parents (and sometimes even older siblings) often do not “get” their kids. They don’t understand their vocabulary. They don’t understand what motivates them. And they absolutely, for the life of them, cannot understand why a pieced eyebrow is cool. (Who am I to criticize…in my childhood, coolness was defined by acid-washed jeans that were tightly rolled around the ankles and permed hair and makeup on male rock stars. Go figure.)

Mr. Wolfe’s book is an interesting study on the relationships between the generations in the workplace. It’s very similar in substance to the generational work done by William Strauss and Neil Howe (Generations, The 4th Turning, Millennials Rising), but it’s much less academic and, frankly, quite a bit easier to digest. Corporate executives who find themselves managing a multigenerational workforce should find the book quite valuable, as should anyone struggling to understand the generation gap in their own home, for that matter. Continue Reading →

Disclaimer: This material is provided for informational purposes only, as of the date hereof, and is subject to change without notice. This material may not be suitable for all investors and is not intended to be an offer, or the solicitation of any offer, to buy or sell any securities nor is it intended to be investment advice. You should speak to a financial advisor before attempting to implement any of the strategies discussed in this material. There is risk in any investment in traded securities, and all investment strategies discussed in this material have the possibility of loss. Past performance is no guarantee of future results. The author of the material or a related party will often have an interest in the securities discussed. Please see Full Disclaimer for a full disclaimer.

Read full story · Comments are closed

The Age of Aging

We recommend you grab a copy of George Magnus’s The Age of Aging. Mr. Magnus is a senior economic advisor at UBS, and his new book is probably the best “big picture” analysis on demographic trends that we have seen since Philip Longman’s The Empty Cradle.  Magnus’s work is a fine complement to our own research, and it deserves a place on your bookshelf.
In the pages that follow, we’re going to quote Magnus on various topics and compare his views to those of our own and of other commentators that we follow.

On the History (and Future) of Retirement:
In the preface to the book, Magnus writes,
Many of the premises on which modern welfare programs were established have changed or soon will.  Retirement pensions, for example, were designed to allow people to stop working and enjoy their last few years in relative comfort while making way for new, younger workers.  Today, although pensioner poverty is becoming a growing problem…retirement is for many an extended period of state-supported or company-financed leisure, which was never anticipated….

To address these challenges over the next decade or two, it is probable that the role and influence of the state, and what is demanded of it, will expand.
There is no question that the concept of retirement has fundamentally changed over the years.  Today, it is viewed as a true entitlement, something that is “owed” to retirees who have spent their lives working and paying Social Security taxes or union dues.  But as Magnus points out, it was not always this way. Continue Reading →
Disclaimer: This material is provided for informational purposes only, as of the date hereof, and is subject to change without notice. This material may not be suitable for all investors and is not intended to be an offer, or the solicitation of any offer, to buy or sell any securities nor is it intended to be investment advice. You should speak to a financial advisor before attempting to implement any of the strategies discussed in this material. There is risk in any investment in traded securities, and all investment strategies discussed in this material have the possibility of loss. Past performance is no guarantee of future results. The author of the material or a related party will often have an interest in the securities discussed. Please see Full Disclaimer for a full disclaimer.

Read full story · Comments { 0 }