Globalization
Two recent stories in US newspapers highlight the huge per-capita spending of Brazilians in the US. While one piece focuses on tourists in NY and retail sales, the other focuses on Florida and also mentions Brazilians buying up real estate. The big point: the taxation making imports so expensive in Brazil as to justify, in some cases, the airfare and hotel expenses.
…says Nassim Nicholas Taleb in the video interview embedded in this post. And while 2007 saw extreme leverage and complexity in banks/ financial system in general, the concept can (and should be) extended to personal debt, government debt and so on – because complexity hasn’t diminished one iota since then. In fact, if pushed to point a direction for complexity in general across the world, we would be quick to point upwards.
Looking at the world’s largest remittance players, it’s perhaps useful to use Moneygram – smaller, under-covered and nearly-bankrupt – to better understand Western Union.
