lighthouse investment management - special report - 2014 november - the bottle is full

8/10/2019 Lighthouse Investment Management - Special Report - 2014 November - The Bottle is Full

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Summary

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50 Shades of Debt

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Inflation: Debtor's Best Friend

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N . , 10

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,

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The Bottle Is Full

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Are We There Yet?

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Point of No Return

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Geopolitical Game of Power in Ukraine

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"The United States, alone among the major powers, has the tremendous strategic advantage of having two of the

worlds great oceans as moats. The stopping power of water is such that no state in the international arena canthreaten the US homeland. The oceans offer not just protection but also access to world markets. People, ideas, goods,

and technologies are transmitted smoothly and rapidly over sea-lanes protected by US naval primacy.

Sea power is different from land-based military power. Threats by land travel weakly over distances. Although a sea-

borne invasion of a territory well-defended by a great power is well-nigh impossible, sea power can be easily projected

far from home. Moreover, unlike on land, where a rough balance of forces can persist for long periods of time, the

blue-water security market is a natural monopoly. Jean D. Bloch, the turn of the century Russian railroad baron and

prominent banker who predicted the course of the First World War, argued in 1902 that there was no point in building a

blue-water navy that is not supreme, since a fleet that is not supreme is just a hostage in the hands of the power whose

fleet is supreme."

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In The Year 2024

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lighthouse investment management - special report - 2014 november - the bottle is full

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