I happen to be in Madrid, Spain at the moment, and I have a few observations. I wandered extensively this morning and noted that Madrid is just the same as any other big city – no surprise there – with crowded streets, a lack of parking, and cars everywhere. While I was envious of all the small cars, especially those with diesel engines (not available in the US, for some strange reason) that probably get close to 60 mpg without involving the massive technology of a hybrid, I only noted a single bicyclist braving the traffic flows.
Like any other major city, the role of energy in supporting its every breath and movement here is obvious. If there’s a Plan “B” here that involves a lot more public transit or reconfiguring the city to operate on less fuel, it isn’t obvious. Perhaps those plans exist somewhere, but if they do, they are not yet in plain sight.
Tonight and tomorrow I get to interact with a variety of notables, including James Turk and G. Edward Griffin (neither of whom I have yet met in person), and present to an audience of approximately 300 precious metals experts.
If ever there was a ripe time to deliver a message that includes both a resource-oriented and monetary perspective on why now is a good time to own gold, I cannot imagine one better than the current climate.
Fighting Your Last Battle
A very common phenomenon in history is to see a culture base its decisions around its recent past. Another way of saying this is “fighting your last battle.”
In the US, the last economic battle that resonates today was the Great Depression. That deflationary environment still gives the US the willies, and it spends nearly all of its efforts focused on avoiding a repeat of that economic ‘battle’.
