Let’s discuss how to become rich in your business – and why it’s increasingly difficult in the bankrupt west.
The European Union is set to impose the most stringent pay limitations on banking sector employees since the financial meltdown in 2008.
The City of London is fighting back and scrambling to gain some leverage to help save its financial sector, but experts say it is to little avail.
The European Parliament has secured the votes it needs to pass its meddling reforms and place further limits on bonuses for bankers.
One important tenet of economics is that capital always has the last laugh. It goes where it’s treated best.
It’s ironic that governments like the EU, which can’t keep their own house in order, are lashing out with new populist regulations to clamp down on that which CAN help keep their house in order.
Moreover, they’re complaining about an industry whose very existence is based on going where it’s treated well.
Government doesn’t understand capital, doesn’t understand personal motivation, and doesn’t understand success. That’s not their business.
They have successfully convinced people across the world that if you own a boat or drive a luxury car that that’s enough and you should be lucky just to have that. But that’s not how capital works.
There has been a flight of capital and financial services firms before. When the EU goes forward with their plan, the tides will just continue to turn toward freer markets. Hong Kong, Singapore, and the like will benefit. Places that understand where their bread is buttered and welcome success with open arms will create the next financial capital and offer those who live, work, and do business there even better opportunity than they do now.
Consider New York Mayor Michael Bloomberg’s complaints when New York State officials were throwing their weight around with big banks, or when President Obama was cracking down on bankers. Bloomberg didn’t like it.
Despite being the chief authoritarian of a burgeoning nanny state, Bloomberg knew an outflow of financial services would cripple his city. Someone’s got to pay the bills.
Last year, when French President Sarkozy threatened a unilateral financial transaction tax, London Mayor Boris Johnson cooed that he was ready to sit back and wait to welcome all of the financial exiles to his city.
If you’re an entrepreneur or investor, you know economies matter. Follow the path of financial freedom and you’ll find the pot of gold that will give you your best chance of success.
An economy where the incomes of people society finds unfavorable are capped for political gain will only serve to further the needs of the political class. Capital will leave, taking the rich with them, and the rest of society will suffer.
You know that.
Now decide how you will take action accordingly, to become rich from boom markets where business and affluence are welcomed rather than shunned.
The single step of following the money will enable you to market your products and services to the best base of customers, and to make maximum return from your investments.