A check every month without doing nothing

quarta-feira, junho 01, 2016 David Barradas 0 Comments

The Swiss will vote next Sunday about a check every month to every soul ? 

why? People are realizing that in the automated world you only need 20% or 30% of the world population to work in order to have everything we need.  If you have a machine that cooks and cleans your house why hire a house maid? I think the world is not yet prepared but it will come.

you have to sustain people , because they are not needed anymore? it's a big big problem. Perhaps a cheaper and less problematic solution is to pay a check only for people above 60 years old. This way the labor market would not be impacted.



Work, as Lawrence Katz of Harvard once pointed out, is not just what people do for a living. It is a source of status. It organizes people’s lives. It offers an opportunity for progress. None of this can be replaced by a check.
Eduardo Porter
ECONOMIC SCENE
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Balanced life ? not possible

quarta-feira, junho 01, 2016 David Barradas 1 Comments

by James Clear

Read this on JamesClear.com

There is a concept known as The Four Burners Theory. Here’s how it was first explained to me:
Imagine that your life is represented by a stove with four burners on it. Each burner symbolizes one major quadrant of your life.
1.     The first burner represents your family.
2.    The second burner is your friends.
3.    The third burner is your health.
4.    The fourth burner is your work.
The Four Burners Theory says that "in order to be successful you have to cut off one of your burners. And in order to be really successful you have to cut off two." [1]

This is obviously true, if you are one of the best in the world in anything you leave some (many) areas of your life behind.

You can't do the 4 successfully at the same time. My advice is to concentrate when you work you work really hard and leave behind the other 3 a bit, when you do sports do it for real. when you are with your family & kids don't multitask.

that is my strategy, when i am doing something i concentrate everything on that area we don't have time do all at the same time.



more about the same:

http://thoughtmeme.blogspot.pt/2014/02/forget-about-balanced-life.html
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Sell the Problem

segunda-feira, maio 30, 2016 David Barradas 0 Comments




This is so true. you just have to call the attention of your prospect for a problem that he may not know he has. Just do that and you have a fat chance of making a sale.

yes your first job is to sell the problem. If there is no problem why to buy a solution?


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key lesson for a cyclist ! Protect the Chain

sexta-feira, maio 27, 2016 David Barradas 0 Comments

TP2016_DAY7_200_low


This is a pic from @PedroCardoso2016
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Happy 8th place

sexta-feira, maio 27, 2016 David Barradas 0 Comments

TP2016_DAY8_650_low

@Pedrocardoso2016
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last stage

sexta-feira, maio 27, 2016 David Barradas 0 Comments

TP2016_DAY8_166_low

TP2016_DAY8_191_low

@pedrocardoso2016

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Why live in miserable and grey LONDON?

quarta-feira, maio 25, 2016 David Barradas 0 Comments

From Simon Kuper , FT

When people talk about the vibrancy of modern London, they tend to mean central London (known in the local transport vocabulary as “Zone 1”). But beyond that is what Doris Lessing in her novel The Golden Notebook (1962) called “London in its faceless peripheral wastes”.
She writes: “The street of grey, mean little houses crawled endlessly. The grey light of a late summer’s evening lowered a damp sky. For miles in all directions, this ugliness, this meanness. This was London — endless streets of such houses. It was hard to bear, the sheer physical weight of the knowledge because — where was the force that could shift the ugliness?”
......................
No wonder that Londoners — despite having the UK’s highest incomes — report the joint-lowest life satisfaction of any English region and the joint-lowest sense that “things we do in life are worthwhile”. Most Londoners aren’t tired of London but they are exhausted by it.
Leaving aside the super-rich, London works best for young adults. It’s a good place to start building a CV, to find a mate among the endless assortment on offer and then to leg it before you’re sharing your bedroom with a baby.
.................................
The logical thing to do (presuming Brexit doesn’t happen) is to arbitrage the two: live on the Med and work for a London company. This will be an obvious decision for the next generation of knowledge workers, for whom the concept of a daily commute to an office will probably seem baffling.

I am on this i would love to live in Lisbon and work for a London company and eventually pay London taxes!  Yes there are some cities where you would only live there to make money. Is this possible to part time in London and have the weekend house in a better country!

i think it's difficult.



http://www.ft.com/intl/cms/s/0/8d8540dc-1703-11e6-9d98-00386a18e39d.html
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How to hire the best ?

terça-feira, maio 24, 2016 David Barradas 0 Comments

The battlefield is a scene of constant chaos. The winner will be the one who controls that chaos, both his own and the enemies. 

Napoleon Bonaparte


Trust one who has gone through it.
Virgil, The Aeneid
Roman epic poet (70 BC - 19 BC)  



I have been involved in sports for many years. I have never won anything, I have done one podium and many top 10 classifications but never a number one. One thing I have noticed is that the nº1 guy the winner is a special guy. It’s not for everyone to win. The focus, the effort and the give it all are out of charts. In a competition there is chaos it's a roller coaster of emotions the winner can control that. To be nº1 is to be special.

If you have to hire someone hire someone that has won anything in school, in college etc… the winner is a special person. Don't doubt that.

This is a pic of the 2012 EOX 240 km race. i did 3rd overhall!


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Why I love the GIRO

terça-feira, maio 24, 2016 David Barradas 0 Comments

I took this pictures from the great Business Insider

even if you are not a cyclist i think this Photos are so unique, the countryside, the mountains and the immense crowds along the road! 

One of the reasons i love to ride is that in a normal weekend ride we can do 140 k and see different parts of our beautiful country. If i played tennis or swim i would be confined to the tennis court or the pool. Not for me. 

http://www.businessinsider.com/giro-2016-photos-2016-5













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There is oversupply of everything !

segunda-feira, maio 23, 2016 David Barradas 0 Comments

From the Telegraph

The USA is facing one of the most difficult issues of its time.
The country is facing a cheese glut. Despite cheeseburgers and oozing deep-dish pizza being two defining culinary exports of the country, they still have so much delicious dairy product they can't eat it all.
US dairy farmers boosted production in recent years because of soaring dairy prices..........................................
The glut is so big that every person in the country would need to eat an extra 3 pounds this year to work it off.
It doesn't seem like this problem will go away anytime soon.
 The CEO of Dean Foods, the largest US dairy company, said last month: “US butter and cheese prices remaining uncompetitive versus the international market. We continue to see a decline in overall U.S. dairy exports.”




Why is this happening?

Nine Robots whose cost will decline over time if only because of scale economies can do the job of 140 full time workers.

Ben Bland, FT China Robot revolution

with robots that can work 24 hours a day without stikes or rest time we will have excess everything soon


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Fear only one thing! Deflation

segunda-feira, maio 23, 2016 David Barradas 0 Comments


What do i take from this table taken from CDAM Hedge Fund letter?


Bonds & Commercial paper make money in any environment, however they are subpar vs stocks in inflation & price stability.

invest 75% in bonds & 25% in stocks and enjoy the beach






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9 % FAT, How to diet without dieting

sexta-feira, maio 20, 2016 David Barradas 0 Comments

We never repent of having eaten too little. 
Thomas Jefferson



If you want to be in ridiculous good shape fast and eat a lot how can you do it?

i did it myself in the last 3 months. So what i am going to describe something that works. It really works.

To be in ridiculous good shape you need to do 4 things

a)A bit of sport every day with just one rest day per week. Walk 45 minutes is enough (i do bike 10 hours a week). After the workout, don't let 1 hour pass, drink a Whey shake. (Water+2 spoons of Whey). it is better to do something everyday rather than 3 or 4 hours every Wednesday.

b)Eat one pill  L - Carnitine a day. on the rest day don't eat

c)Don't eat / sugar

Fruit
bread
juice
milk
yougurt
all dairy
potatoes
pasta all kinds of pasta
rice all kinds of rice
sweets 
sugar etc...

d)What to eat/ food real food

meat & fish
eggs
vegetables all of them
beans, peas, fava beans, lentils

Exceptions: If you want to eat fruit do it between meals. I drink wine every time i have a social event.

As you can see the most change in your diet is breakfast , you have to eat food and cut with bread, cereals, juice and all the sugar you put in your body when you wake up. normally i eat the leftovers from dinner. I love to eat real food in the morning. My kids think i am crazy.

Does this work? yes it does. can you keep this system forever? I can because i don't love sweets.

Tip: if you start this system don't do it 50%! Go all in. Be obsessed.  in the first 2 days do it 100% and then you will see amazing results just for two days. 

Good luck




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Rest day for a Cyclist

quinta-feira, maio 19, 2016 David Barradas 0 Comments


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I am Bullish on Spain

quinta-feira, maio 19, 2016 David Barradas 0 Comments

“Last year we cut income tax and tax revenues still went up,”

Mariano Rajoy

Spain’s Mariano Rajoy is promising a fresh round of tax cuts if he is re-elected prime minister next month, risking a showdown with Brussels over Madrid’s chronic budget deficits as he courts voters eager to shrug off a long era of austerity.


Apparently Rajoy figure out that after some threshold if you raise taxes tax revenues go down! yes down! In my countyry Portugal goverment from left to right have been raising taxes every year and the economy is tanking.


I am bullish on SPAIN if Rajoy wins
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Do more for others !

quarta-feira, maio 18, 2016 David Barradas 0 Comments

Anyone who’s become truly wealthy knows the truth – the only way to become wealthy, and stay wealthy, is to find a way to do more for others than anyone else is doing in an area that people really value.


Tony Robbins


This is obvious a good advice. Almost all the companies that are well do something, solve something make life better for their customers. That is key. Companies that really think about making life better to the customer are doing very well.

Besides this advice i would give 3 others that really are a bit technical but make a really difference


1.Control your costs? be the cheaper provider of the service, buy your competitors and after buying them cut the costs

2.Create a brand. Make people believe that your product is more than really is.

3.Kill the competition.

Yes that is the most important, to operate in a market where you are alone.

There are lot's of ways to make money but to make real money there is just one way.

To kill the competition, to be the only one. That is the key. Bill Gates and Carlos Slim aren't the richest guys in the Planet because they are good. They are nº1 in their markets.

If you invent a better product the competition will catch up soon and replicate you. All the advantage goes to the customer.

I guess that is why Google & Amazon are doing so well. They are using the money they make to improve their offering in a way the competition can't match. The market is approving this strategy. They are slowly killing the competition. That is the smartest strategy to do. To do that you can't pay shareholders right now. later big time but not now.
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4 items today!

terça-feira, maio 17, 2016 David Barradas 0 Comments

Recently, Exxon Mobil lost it’s perfect triple-A credit rating it held since 1930 as Standard & Poor’s downgraded it to double A +, leaving only Microsoft and Johnson & Johnson at the top
A Gary Shilling INSIGHT


Apple CEO Tim Cook will visit India this week and meet Prime Minister Narendra Modi, two sources familiar with the matter said on Monday.
Reuters


Underdogs are overrated, Leicester city success should be celebrated but not sentimentalized
Economist

CARACAS, Venezuela—President Nicolás Maduro’s government said on Thursday that it would cut electrical power by four hours a day for 40 days across much of Venezuela to save energy, even though the country is already reeling from frequent blackouts………………..“Who’s going to replace our food that goes bad after the light is turned off?” said Ana Gomez, a 39-year-old accountant. “Who’s going to guarantee me that it’ll be the four hours the governments says it’ll be?”

The Wall Street Journal


My comments

Usually what is supposed to happen happens. That is why technology /information/ data/science are winning vs superstition, habit & tradition. That is why the machine will win vs man.

The victory of the underdog is not the normal thing the opposite is the usual. In Venezuela what is supposed to happen is happening, bad policies end badly. It could take time but the result is given. 

The big get bigger is a theme of this blog. Tim cook to visit Modi is a big symptom he does not meet with the information minister he meets with the PM Modi!




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A Holiday in Mud & rain!

segunda-feira, maio 16, 2016 David Barradas 0 Comments


5th Transportugal - Done

I just finished my 5th Transportugal ! I ended in 8th place between 107 riders. The only reason i did so well this year was because the weather was miserable during 7 of the 8 days and a lot of good riders better than me quit due to the bad weather. Things are never so bad as they seem. 

One of the days we started with wind, rain & minus 2 Celsius. However as soon as we descend the mountain to a lower altitude it almost stooped raining and temperatures climbed to 8 Celsius! So i did put some old newspapers inside my wind stopper and i started anyway. Many of the other riders missed this day because the conditions at the start were really impossible. (if you missed one day you are out of GC / general classification) Since the stages were some 6 or 7 hours of riding if conditions persisted it would be impossible. But things are always better than they look. It was my lucky day. Other riders put a lot of heavy clothing (leg warmers, winter coats etc... and had to stop to change and lost some 15 to 20 minutes. I just had some old newspapres that i got rid off in the first garbage box i found.

In perfect conditions i would have finished out of the top 10 but as i said i got lucky.


If you're going through hell, keep going. 
Winston Churchill

Resolve never to quit, never to give up, no matter what the situation. 
Jack Nicklaus


Crossing Portugal in 8 days, north to south; finishing in Sagres - the southern west point of Europe; 1000 km of off-road racing across forest tracks, gravel roads and steep single tracks on clifftops.
Racing from hotel door to hotel door, overnight stays in the best hotels in the region, excellent food and relaxed atmosphere all around.
No signs, ribbons or arrows to indicate the way. Intuitive flawless GPS guiding. You can never get lost and you are always sure you are following the right race track.
An innovative way of racing where each participant follows a virtual marked track on the screen of his GPS receiver.
Always racing across very isolated and peaceful landscape and in self sufficiency, no aid stations and all external support is forbidden.










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Good Indicator

sexta-feira, abril 29, 2016 David Barradas 0 Comments

I agree with almost all. I could resume in one sentence. Be a good person and success will come Gratitude, forgive, want others to succeed, give credit and of course work hard.




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Amen to this

sexta-feira, abril 29, 2016 David Barradas 0 Comments

Parents should turn off smartphones, computers and TVs at meal times and eat at the table with their children every day for a better family life, says the Pope 

  • Pope Francis warned that an addiction to gadgets was isolating children to the extent they were like little pensioners
  • He said the tradition of a family sitting down together to eat at a table was starting to vanish due to new technology
  • The pontiff warned that people who spent their lives staring at a screen while eating were not in a 'close family'
  • He claimed the dinner table was a place for families to discuss happy and sad events affecting all of their lives 

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still 3 kg overweight! any tips?

quinta-feira, abril 28, 2016 David Barradas 0 Comments

one week for the Transportugal 2016 !

Crossing Portugal in 8 days, north to south; finishing in Sagres - the southern west point of Europe; 1000 km of off-road racing across forest tracks, gravel roads and steep single tracks on clifftops.
Racing from hotel door to hotel door, overnight stays in the best hotels in the region, excellent food and relaxed atmosphere all around.
No signs, ribbons or arrows to indicate the way. Intuitive flawless GPS guiding. You can never get lost and you are always sure you are following the right race track.
An innovative way of racing where each participant follows a virtual marked track on the screen of his GPS receiver.
Always racing across very isolated and peaceful landscape and in self sufficiency, no aid stations and all external support is forbidden


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Why America is the place to be!

quinta-feira, abril 28, 2016 David Barradas 0 Comments

Big get Bigger in the Bible
For whoever has will be given more, and they will have an abundance. Whoever does not have, even what they have will be taken from them.

Matthew 25:29



I am a big believer in the exponential growth and that is why it pays to be big, it pays to focus and only do one thing very well (after low improvements in the beginning things get better & better and of course people love to do what they do well. The solution? put the hours in few endeavors,  concentrate, Focus.


This graph from the great BCA research, shows that the big companies are much more profitable than the median company.


From the Economist

Another new paper**, which looks at manufacturing in America, China and India from 1982 to 2007, suggests that the trend towards bigger firms is only likely to accelerate. Big firms’ higher productivity, it argues, raises the barriers to entry for new—and presumably smaller—competitors. Larger factories are more productive than smaller ones, so bigger firms can entrench their position over time. That will skew the income distribution even more. There is plenty of evidence across America and Europe that startup rates for companies are falling, allowing the biggest firms to get bigger unhindered by competition. Since the financial crisis, higher barriers to entry in the form of limited access to capital has caused the number of new businesses to collapse.
Not all economists see this as a dreadful thing. After all, bigger firms have much higher investment rates than smaller ones, which helps to fuel growth throughout the economy. The preponderance of small firms in such places as Greece, Italy and Portugal, seems to be one of the factors holding those economies back.

http://www.economist.com/news/finance-and-economics/21646266-growing-size-firms-may-help-explain-rising-inequality-bigger


I am not planning to move to America (the place of the big companies) but i already own stocks in many american companies as a hedge against living in a small country, Portugal. In my country consolidation has not been promoted and the result is that companies are struggling to survive. It's a difficult place to be a small company. you don't have a decent research budget, marketing budget etc...how are you going to compete? you have an idea no one else has and can not be copied! I don't bet on this



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I had to fire my house maid !

quarta-feira, abril 27, 2016 David Barradas 0 Comments


The secret to wealth is simple: Find a way to do more for others than anyone else does. Become more valuable. Do more. Give more. Be more. Serve more. And you will have the opportunity to earn more--whether you own the best food truck in Austin, Texas, or you're the top salesperson at your company or even the founder of Instagram.

Tony Robbins, 

this is of course a good advice. I had a house maid for 9 years i liked her a lot. She cooked my food perfectly and iron my dress shirts in my way. She was not perfect but no one is.

However she was a bit inflexible, we bought a dog and she refused to walk the dog, last month i asked her to patch some suit trousers and she said she might ruin the trousers and that i should send the trousers to a professional etc... long story short after many episodes like this my wife sent her away (with a high financial cost)  I would probably let things stay as they were ( i am a bit conformist ) but after the fact our new house maid did patch the trousers and walks the dog and she is happy to serve. Perhaps in 9 years she will become like the previous one but the start is very good. 

Going back to Tony Robbins quote i know he is right, just do more and you will get more. be nice, be of service, care more and you will get more money. Do more even without pay and you will get rewarded big. I know this is true. 

Note: We did get our previous maid a new house and i am sure she will do a good job there. She is a very good maid with a bit of attitude.
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Work more not less!

sexta-feira, abril 22, 2016 David Barradas 0 Comments

Working hard is very important. You're not going to get anywhere without working extremely hard. 
-- George Lucas


People who advise that you should work less are not giving a good advice. Work is one of the biggest weapons a person might have. Many people don't like to work hard and that is your biggest advantage. just put the hours.


Talent is cheaper than table salt. What separates the talented individual from the successful one is a lot of hard work." 
— Stephen King


More about the same

http://thoughtmeme.blogspot.pt/2014/11/there-are-no-shortcuts-to-any-place.html
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Today is my birthday! Next year is 50

quarta-feira, abril 20, 2016 David Barradas 0 Comments

I just want one thing for next year health for me my family & friends . All the rest who knows what might happen. It's going to be good. 

I want 4 things for next year

a)to be in ridiculous good shape
b)to travel more
c)to have less & less things. Use what i have more and more including clothes, gadgets & everything i don't need the new version of anything
d)to eat slowly




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Finally a useful gadget !

segunda-feira, abril 18, 2016 David Barradas 0 Comments

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what is the point of Brexit?

sexta-feira, abril 15, 2016 David Barradas 0 Comments

From Chris Giles, FT

When you can download software from the US or your favourite song from Australia, it is not surprising that both the tech-savvy and those wanting Britain to leave the EU assert that geographical proximity has never mattered less. This is a favourite phrase of Daniel Hannan, a Brexit-supporting Conservative member of the European Parliament. It also happens to be a myth.

Take two countries, one with historic ties to Britain and which shares the same language, the other merely in the middle of the European continent. New Zealand and the Czech Republic were both $200bn economies in 2014, measured at prevailing exchange rates, and Britain trades significantly more with one than the other. Imports and exports of goods and services in 2014 were 3.9 times higher with our European not-so-near neighbour than with our distant former colony.

This is not cherry-picking countries. Britain might not play a lot of cricket with Spain but it trades 3.3 times more with its former enemy than it does with Australia. Both Spain and Australia are $1.4tn economies, but British people are more willing to travel short haul for sunshine and sangria than for the lifestyle of Neighbors, the long-running Australian television soap opera.


http://www.ft.com/intl/cms/s/0/aef23062-dae6-11e5-a72f-1e7744c66818.html#axzz45sjyzlsg



yes what is the point of Brexit? If you really trade with your close neighbors as always has been the case why exit a free trade agreement with your closest countries.
What is the point of be treated as a non EU member? Do they want to pay tariffs? Do they want to stay in the big queues in airports? Do they want to fill papers to come to Europe, do the UK students still want to study in any European University with no cost? Does a Brit want to pay a full price if they have to go to a Portuguese Hospital?

I really would love them to exit, it would be nice to see the Brits negotiating case by case all the way back into the EU. 


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We only want poor people in this country!

quarta-feira, abril 13, 2016 David Barradas 0 Comments

From the FT Big read,

The slowdown is just one sign of the anxiety among UK residents with non-domicile tax status. The changes were set in motion in July when chancellor George Osborne unveiled an overhaul of a system in place since 1799 — when William Pitt the Younger was prime minister and Britain was fighting France.
The regime was created in part to shelter those with foreign property from wartime taxes. It has meant that, for more than 200 years, individuals claiming non-dom status have been able to live and work in Britain without being subject to tax on gains and income earned and kept outside the country.
The Conservative government has declared that the rules can give rise to “unfair outcomes”, and Mr Osborne has set out to overhaul them.
..........................

In the 2013-14 tax year, 114,300 non-doms were registered in the UK. The group ranged from relatively low-paid workers such as teachers to prominent businessmen like Lakshmi Mittal, the steel magnate, media baron Viscount Rothermere and Roman Abramovich, owner of Chelsea football club.
Under Mr Osborne’s proposals, foreign residents who have lived in the UK for more than 15 of the past 20 years will be deemed domiciled in the UK for the purposes of income tax, capital gains tax and inheritance tax fromApril 2017. They will have to open their international business affairs to the scrutiny of HM Revenue & Customs, which could land many of them with a vast tax bill.

http://www.ft.com/intl/cms/s/0/b482fc4e-c4f4-11e5-b3b1-7b2481276e45.html#axzz45X9TE9jY


Why the rich countries are stalling ? Because the Governments are always doing policies they know would harm them in the long run but look good on paper

In my country Government is always on the look for stupid ideas

Abolish students national exams (same tests for everybody at the same time)
raise minimum wages
legalize temporary jobs

I would prefer in a country with many rich people than in one where there are only people like me!

I thought Brits where smarter






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Too much courage & Bravery

quarta-feira, abril 13, 2016 David Barradas 0 Comments

My fr
























My friend  Roger Crowley just published this book about the 15 century opening of the sea routes to Asia by Portugal.

Portugal’s discovery of a sea route to India, campaign of imperial conquest over Muslim rulers, and domination of the spice trade would forever disrupt the Mediterranean and build the first global economy.

To me the best take from this book is a lesson of too much bravery & not much efficacy. The 15th century Nobles were brave but the loss of lives was unnecessary since the Portuguese possess Cannons & guns. Why die by the sword?

I read the book and I certainly recommend it as an easy read that can be done in one take. (i make zero from the sale of the book)

Someone put this in AMAZON

Warning: these Portuguese are wonderful soldiers but they are overbearing, and often vicious, in breaking into the Indian Ocean world almost like Vandals breaking into the Roman world.


http://www.amazon.com/Conquerors-Portugal-Forged-Global-Empire/dp/0812994000



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When the boss isn’t consistent, people can’t do their best.

terça-feira, abril 12, 2016 David Barradas 0 Comments

From the smart Lucy Kellaway

The researchers conducted a series of experiments in which they divided students into three groups and gave them all a job to do. The first group was subjected to constant compliments; the second to constant abuse and the third to a mix of the two. The first group wasn’t stressed at all; the second was mildly so, while the third — the group that didn’t know if they were going to get sticks or carrots — was by far the most stressed and least happy........................................


Predictability matters at work not just in relation to your boss — but to almost everything. People claim they love jobs in which every day is different, but there is little evidence to back this up. Instead, studies in the US have shown that workers with unpredictable hours are more stressed and less happy than those who keep a regular timetable.
If I think of my peers, I would probably tell you that I love working with people who surprise me. But that isn’t true. I like working with people who interest me, but who do not surprise me at all.



It's clear that boring wins over exciting and predictable & stable endure for centuries (Communism & Christ). I listen to people that say that they love their job because it's different every day. The fact is that most  people prefer stable & predictable.

Mathmatics & Software is boring and predictable and it's going to win over the unpredictable human mind.

I think the best job is when you have a big goal and all the team works hard to achieve it.


I just think people have a lot of fiction. But, you know, I mean, the real story of Facebook is just that we've worked so hard for all this time. I mean, the real story is actually probably pretty boring, right? I mean, we just sat at our computers for six years and coded. 

Mark Zuckerberg

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Free Trade is not good for all but should be promoted without doubt

segunda-feira, abril 11, 2016 David Barradas 0 Comments

Larry Summers, FT
No one thanks global trade for the fact that their pay cheque buys twice as much in clothes, toys and other goods as it would otherwise would



From the Economist
One study by economists at the University of California, Los Angeles, and Columbia University calculated that median income earners in America would lose 29% of their purchasing power if America was closed to trade, but that the poorest would forfeit as much as 62%, because they spend proportionately more on goods that are traded. Add to the reckoning the eventual benefits of a richer Chinese market for exporters, the spur to innovation in America from global competition and the low-cost inputs for consumer goods, such as the iPhone, that raise the productivity of American designers, and the arguments in favour of free trade are overwhelming.


with free trade the best place to produce Bananas is probably going to produce Bananas for the whole world, they will have the money to invest, to do R&D and to extend their lead. However the other banana producer in less favor areas will close their doors.

what should be done?

Promote free trade + spread the benefits 

I always think about a classroom, some teachers don't move on to respect some students that are slow or stay behind. In my country this is the policy, always be worried with the bad student and the result is small overhall progress.

what would happen if the teacher keep pushing the class all the way. The average would be much better and there would be some students left behind. I think this is the right way with extra support off class to the weak students. They had to work more to catch up.


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