Translation: making money twice on the same repackaged product.
It’s as if the banquet hall offers to cater for your wedding the second time around. Or your high school decides to hold a prom again (this time, it’s even more difficult to get a date).
I advocate a return to school though, since knowledge advances so quickly, while employers are reluctant to subsidize continued education. Like happiness, one needs to take personal development (i.e. to fill those skill gaps) into one’s own hands.
What’s your take on China? the economy? tech bubble? sustainability and electric vehicles? social network? doomsday prophecy? threat of terrorism? gun law? etc.. It has been said that the financial bubble was caused mostly by ignorance from the part of the public and regulatory agencies. Those CDO‘s and derivatives are too hard to understand (a leverage of 40:1).
Hence, the need for “re-education”, in a good sense. After popularizing globalization, Friedman tried again with the environment, which is the flip side of globalization . Interestingly enough, China now leads the world in producing solar panels (while in the West, every time gas price dropped, you were told to go and hug a tree).
Malaysia and other Southeast Asian nations now follow suit.
With younger demographics, SEA is poised to be the next group to enter Middle-class kingdom (tickets to paradise): theme parks, experience economy, leisure and trade-up consumption. It’s here where the celluloid culture of Tinsel town can gain some traction: multi-screen/dining, pop corn, tie-in posters and T-shirts, CD‘s and Facebook fan pages.
Vets upon visiting Vietnam will recognize the music (the Doors), the name (Apocalypse Now) and the brand (Hard Rock Cafe). What a surprise! Give it some time. People will always catch on. But not by force. Maybe this time, mom and daughter can both go and see “Thelma and Louise”, and discuss the high price of “ism” be it feminism, chauvinism, or consumerism. Heck, if they can take a beautiful dream, albeit a legitimate one, of owning a house, and turn that into a “financial instrument”, they can certainly turn your dream of a career or re-education (educational bubble) into a re-release of Nightmare on Wall Street, part II. Coming to a bank near you.