Mr. Risk Goes to Washington

No, not me – Business Week is referring to Mr. Paulson, the new Treasury Secretary. They say he is well suited to today’s environment, which is at a dangerous point:

“Both liberal and conservative economists warn that the bulging trade deficit, now roughly 6% of gross domestic product, poses a danger of sending the dollar plunging and causing a financial meltdown. The federal budget deficit for 2006 will hit at least $300 billion. And current projections call for Social Security and Medicare to run up enormous deficits in the long run.”

Check out the article. It makes sense. This line also jumped out at me:
“Facing intense competition from around the world, the only way the American economy can thrive is through risk-taking. Indeed, some economists have characterized the U.S. as a giant venture capital fund that sucks in money from overseas and invests it in high-risk, high-return projects.”

Bottom line: There are greater issues facing us then most politicians and voters realize. We will need more “Mr./Ms. Risk” types in leadership to deal with these global issues that impact our future. But to have value, they have to know global trade and international finance to avoid pushing the wrong button that leads to disaster instead of opportunity...I can't say that I see a lot of those types around. Know anyone?