“Your complaint is your call to action.”
~ Jason Bawden-Smith
By Catherine Austin Fitts
Creative destruction is upon us – the shift between Global 2.0 (an industrial economy) and Global 3.0 (a networked economy) is accelerating.
So what happens when productivity rises dramatically? If the application of online and new technologies creates $1 of income by destroying/saving $20 or more of existing income/expense, how is that supposed to work?
Here are several examples in the recent article Why Every Aspect of Your Business is About to Change:
- Skype brought in approximately $2 billion in 2013. McKinsey calculated that in that year Skype transferred $37 billion away from old-guard telecom firms.
- San Francisco’s taxi regulator reported that the number of fares per licensed cab fell 65% from March 2012 to July 2014 as Uber, Lyft, and others entered the market.
- When Airbnb entered Austin, Texas, hotel revenue fell by 8% to 10% according to Boston University researchers.
What is the process by which we invent new enterprises using the capacity that is now available? While we are at it, how do we reinvent a more peaceful economy, operating in a positive relationship with each other and our environment?
It’s called entrepreneurship – and it’s time for a lot more of it. This is despite the fact that the US and most of the G-7 political and economic leadership are doing a great deal to centralize control…which handicaps entrepreneurs and potential investors.
This week, Jason Bawden-Smith publishes his business biography, Making Waves. It describes how he founded four companies focused on solving environmental problems. Jason’s achievements include introducing technology into Australia which reduced lead poisoning in children and lessened the impact of excessive exploration and mining activities.
To celebrate the launch of Making Waves, Jason will join me on the Solari Report this week to discuss entrepreneurship in changing times.
For Let’s Go to the Movies, we’ll take a look at Nick Hanauer’s TED Speech:
The wealth potential — if we reinvigorate trust and markets, including the free flow of local and entrepreneurial capital — is significant. We don’t have to let a deflationary spiral take hold.
Please join Jason Bawden-Smith and me on the Solari Report this week to discuss how we can do it.
If you’re not a subscriber yet, you can learn more about becoming one here.
[CAF Note: Budget issues are in the news as a result of the US Presidential primaries. In response to numerous questions, I am republishing my piece on the obstacles to a very desirable and necessary revolution in federal fiscal policy.]
by Catherine Austin Fitts
Ultimately, the fiscal cliff is the tip of the iceberg of our economic and cultural woes. Our problems are deeper. The more of us who are prepared to look honestly at our situation and take responsibility for it, the sooner authentic solutions will become possible and emerge.
As we look over the fiscal cliff into our financial abyss, now is a good time to “Come Clean” about the real state of our lives, our communities, and our economy, starting with the U.S. federal finances that flow deeply and intimately throughout every aspect of our lives.
This Solari Special Report includes (22) challenges we must address to put our federal fiscal house in order.