Across the globe, there are regions where the sunshine seldom penetrates, leaving them in darkness. Among these places is a desolate expanse in Siberia, stretching from the Ural Mountains to the Pacific coast, where unremarkable villages with unpronounceable names exist in profound isolation.
Vyatskoye, located in eastern Siberia, is one such village.
Born in 1941 under the bitter chill of Vyatskoye, Kim Jong-il entered a world shaped by his father, Kim Il-sung, who was a captain in the Soviet Red Army commanding a battalion of Korean and Chinese guerrillas. Legend has it that as Kim Jong-il breathed in that frigid air for the first time, the cold enveloped his infant mind, body, and spirit—an icy embrace that never truly dissipated throughout his life.
It is undeniably poignant that fate chose such a moment for Kim Jong-il’s arrival. At that time, the world was rife with uncertainty; the possibility of Germany and Japan seizing control over Eurasia loomed large. For Kim Il-sung, aligning Korea’s future with the might of Russia and China seemed like a wise choice. For Kim Jong-il, this decision paved the way for his absolute authority over the North Korean people. Continue reading
Embracing the Absurd
[Editor’s note: Today’s Economic Prism features an excerpt from remarks made by Direct Expressions’ President and Founder MN Gordon during the annual company holiday party last Saturday at the 555 East Steakhouse.]
“Fate tosses fortune, but not everyone is prepared to catch it,” says a Polish proverb. It seems that few even attempt to do so.
A recent Forbes article highlighted how six members of the Walton family—the original owners of Wal-Mart—hold more wealth than the bottom 30 percent of Americans combined. Evidently, this demographic has overlooked the importance of casting their nets.
People today are preoccupied with mourning wealth inequality and devising schemes to seize what isn’t theirs, rather than contributing meaningfully to the world. This isn’t to disparage those struggling financially; instead, it underscores a troubling misconception permeating our society.
We refer to the multitude who, through manipulative politics and governmental mandates, think they can thrive by relying on the efforts of others. Essentially, they are investing their beliefs in an absurdity. Continue reading
On Tuesday, Federal Reserve Chairman Ben Bernanke achieved something quite remarkable… he did nothing. Following the Federal Open Market Committee meeting, Bernanke announced no changes to monetary policy.
This, without a doubt, is no small feat. Remember, Bernanke is the individual responsible for clandestinely distributing $16 trillion, conjured from thin air, to U.S. banks, corporations, and foreign entities between December 2007 and June 2010. It seems he consistently provides funds to those who neither earned nor deserve them.
Surprisingly, Wall Street expressed disappointment with Bernanke’s inaction. With the economy faltering and crises brewing in Europe, many expected the Fed to announce a significant plan—like QE3—to boost stock prices heading into the new year.
Fortunately for the average citizen off Wall Street, who earn and save their wealth in dollars, this pause in money printing might prolong the value of their currency, protecting it from becoming worthless—at least for a bit longer. Continue reading
Food stands as one of life’s most essential needs. Securing enough nourishment to meet one’s daily requirements is a fundamental aspect of survival. Similarly, an individual’s ability to sustain themselves directly impacts economic viability.
Hunger, undeniably, serves as a powerful motivator. Throughout history, many great advancements have been driven by the desire to satisfy an empty stomach. Likewise, countless moments of toil are endured for the sake of earning one’s daily bread.
Thus, more open and free economies tend to enable greater self-sufficiency among individuals. In contrast, economies burdened by corruption, arbitrary property laws, and autocratic regimes often see an increase in hunger among their populations. In this regard, a rise in individuals unable to provide for themselves may indicate a faltering economy—and point to government fraud and excessive interference as contributing factors.
According to the latest U.S. Department of Agriculture statistics from September 2011, over 46 million people are currently reliant on food stamps. This figure represents nearly 15 percent of the U.S. population—an alarming increase of 65 percent since 2008. Continue reading
As we navigate the complexities of modern life, these insights serve as reminders of our economic realities and the importance of self-sufficiency. Understanding the roots of our challenges can empower us to forge better paths forward for ourselves and society.
