The future in a single word: downsizing. Downsizing is going to be popular, hip, cool, fashionable and sensible. People are going to be proud of their small houses…their small cars…their low-impact vacations…and their modest spending.
More than that…people are going to turn against money. Yes, you heard that right. Lucre is going to be filthy again. No, we’re not going to explain…just remember our words.
Last week, in the International Herald Tribune , we saw a photo of a town that had been burned and destroyed in Kenya.
“Yes, there’s almost a civil war going on,” explained a lawyer we met yesterday. “I lived for many years in Kenya. There are different tribes there who don’t get along with each other. Barack Obama’s father is from Kenya. It’s his tribe that does most of the killing.”
But what was remarkable about the photo was the caption beneath it: “Investors hope calm will soon be restored.”
Today, practically every story is a money story. The casual reader is expected to be interested not in the fate of the people…the wailing of widows…the political evolution of the country…the religious or tribal aspects…the effectiveness of the local fire department…the rhetorical appeal of the local demagogues…or anything else. The reader’s primary concern is thought to be the money angle. “Gee, now that Kenya is in flames,” he supposedly thinks to himself, “maybe I should move my 401k money out of the All-Africa Fund.”
Speaking of downsizing, India’s Tata Motors just downsized the family car. Yesterday, it took the drapes off its new Nano – which it has put on the market for just $2,500. The photo makes it look like a slightly stretched Smart Car. Not bad really. As far as we know, the vehicle is only for sale in India, but if it were on the lots in the United States, we predict that it would find plenty of buyers. The little can gets 50 mpg
Our London colleague Merryn Somerset Webb has written a book for women: Love is Not Enough: A Smart Woman’s Guide to Making (and Keeping) Money . The book has been a big hit in England, with sensible advice on everything from credit ratings to credit crunches. It’s now available in paperback; just follow this link:
Back in the U.S.A, meanwhile, old friend Michael Masterson, has a new book out – Ready Fire Aim . It’s taken the number one slot on Amazon already. When it comes to starting businesses and making them work properly, Masterson is the best…in fact, he’s the real brains behind our own publishing business.
Here’s the link to find out more about his new book.
for The Daily Reckoning Australia