THE SOLUTION OF CHINA
Zihuatenejo, Mexico. My wife and I have managed a quickie escape from Zeroland to stay at a friend's home here. If this isn't paradise, it will certainly do until paradise comes along.
My rationale for being here (as if I really needed one) is that my buddy who lives here has been a top advisor to more Global Fortune 100 companies for more years than perhaps anyone else on earth. Who better to talk to regarding the meltdown of the global economy?
Name any major insider or player in global finance or global business, and the odds are high that my friend has known them well for a decade or two. He's been calling them up, asking them the same question I had for him: What the hell is going on?
Their answer, which is the same as his answer? "Damned if I know."
He tells me: "Jack, I know the heaviest hitters out there. And I'm hard put to think of any who weren't blind-sided by this. You could see damage coming, a recession, okay. But a multi-multi trillion dollar total global wipeout? No one I know saw it, nor can explain it, nor knows what's coming next. We're all flying blind, and going broke doing so."
Naturally, I needed another Margarita after that. Then we started to think about real solutions.