The largest transfer of wealth in history of mankind...

[crgarcia]

While I'm not an advocate (or a believer) of the Boone Pickens plan,

It is true that this is the largest transfer of wealth in the history of mankind.

But, isn't this wealth transfer a good thing to the US?
Most Middle Easteners, Russians, Venezuelans, are so dumb and lazy that they can't build any industrialized goods.
So they buy many goods from american companies.
Even made-in-china goods are products are traded mostly by western companies.

 

[stevegee58]

Quote from crgarcia:

Most Middle Easteners, Russians, Venezuelans, are so dumb and lazy that they can't build any industrialized goods.

Hmmm. Seems a little harsh. Their industrial base atrophied due to so-called Dutch Disease, not because they're dumb or lazy.

Tapping a vast natural resource and producing tremendous wealth from it is both a blessing and a curse.

 

[itcanbedone]

but, At the end of the day those $ left our accounts and more likely that not won't be used to grow IP.

so that means we are flushing a big chuck of that 'weatlh transfer' money into the abyss.

that is why it's bad.

 

[RhinoGG]

The thing about t boone, whether or not you believe him, it does not matter. He's out there, spending his own money on public television advertisements, during some decent time slots too. Thats bank, thats commitment to his cause; and yes, he stands to gain enormously we know that; But, people like him, and they respect him, and they listen to him. He has a voice and he has listeners. Its all about perception, and he's painting the picture perfect perception/illusion that tugs on the heart strings.

The guys is out there making tv spots, connecting with developers, suppliers, engineers, investors and politicians. In other words, right or wrong, he's actually doing something. You?

 

[tgrady]

For a more detailed analysis of the broader picture, I suggest reading this:

http://www.amazon.com/When-Markets-Collide-Investment-Strategies/dp/0071592814