Opinion – Poll: Public sees smaller threat in China economy | TheHill – John Gelmini

The American public are probably being  misinformed about the nature and size of threats by the mainstream media and the Obama administration.

Dr Alf has brought us similar articles before but under Obama the waters have definitely been muddied and risks have not been properly considered or assessed. Professional assessments from the US military are being subordinated. Meanwhile, Obama is backing his own judgement and maximizing on executive power, in his lame-duck remaining period in office.

The biggest long-term threat is probably militant Islam and the attempts by Saudi Arabia, Qatar and Kuwait to create a global caliphate.

Russia will build a buffer around itself, with parts of the Ukraine, and in the end the West will do nothing because NATO has a treaty to defend its member states, and the Ukraine is not one of them. The UK has neither the forces nor the ability to impose its will alone, so it can do little more than huff and puff and America will not unilaterally go to war and Vladimir Putin knows it.

North Korea is a useful bogeyman but Iran is a real threat to oil supplies and still has serious strategic aspirations.

China is a threat to America’s pride and by holding American debt is in a strong position to resist American pressure.

John Gelmini

Opinion – Chris Tonetti: An Economist Shows How Imitation Can Sometimes Beat Innovation | Stanford Graduate School of Business – John Gelmini

Dr Alf brings us an interesting article from Stanford Graduate Business School, which misrepresents the position.

Joni Ive, a native of Essex, UK, developed the protocols which underpin the internet; Tim Berners Lee invented it.

People of European descent have invented 80% of everything that we and the good professor now take for granted, and the American space program and the research done in secret in Las Vegas, at Area 51 for Project Aurora, was in fact originally down to Von Braun and Oberth, plus the hundreds of SS scientists the Americans captured, ”de Nazified” and pressed into America’s service.

America has benefited greatly from European inventors and scientists and has been able to build on a legacy given to it by the blood, sweat, tears and toil of others, so it should feel proud of what it has invented itself but remember the source of the original legacy.

The fast follower strategy is a marketing technique used by the Japanese, the South Koreans (LG, Samsung, Hyandai) and by the Chinese. It works because the speed of emulation can now be measured in split seconds. However, it is no substitute for innovation and creativity in the long run because in the end it leads to product convergence and lookalikes indistinguishable from each other.

Europe, unlike Silicon Valley, has a risk averse culture and has venture-capitalists (‘VCs’) less than willing to back promising new ventures.

In the case of the St John’s Innovation Center, in Cambridge, new spin-outs are 5 times less likely to receive funding as are similar businesses out of MIT and Stanford.

UK and European VC risk aversion, and the risk aversion of our banks and Governments, who have too many blinkered civil servants, holds us back and kills off many promising ideas and businesses which would flourish across the pond.

It’s time for radical reform in Europe, not just to the public sector, but to the political classes, the media, the banks and the regulated industries.

John Gelmini