subject: What Should Young People In Bankrupt Western Nations Do? [print this page] This is an article by Simon Black, editor of the Sovereign Man newsletter, on the difficulties facing young people today, as well as suggesting some fascinating new frontier opportunities:
"Young people in bankrupt western nations do not have a particularly bright future. To put it bluntly, society is going to force-feed you a shit sandwich. Higher taxes, more debt, fewer prospects, and a much lower standard of living await you. That's if you stick around.
You probably won't be surprised to hear me say this, but I think that young people ought to consider getting out of dodge. The world is a big place and it's full of opportunities. Following the old way of 'study hard, go to a good school, get a great job, and work your way up the ladder' is completely dead.
Success today, whether it's in a job or owning a business, is all about creating value- what can you do that's so valuable to someone else that they're actually willing to pay you for it?
When you're in a developed country surrounded by hundreds of millions of people who share similar skills, it can be a bit competitive to do this. But if you take off for a developing country, you might be the only person in town who can do a number of things that might seem like second nature to you.
The great thing about being young is that you have nothing to lose and everything to gain. It's the only time in your life that you won't be saddled with other responsibilities.
As for WHERE to go? Part of it is a lifestyle choice where do you want to be? But most of all, look where the growth is. Asia, Africa, Latin America. You'll find a happy medium that strikes a balance between growth opportunities and your personal desires.
I wrote about Mongolia last week, there are fortunes to be made there. If you're a real wild man, try South Sudan they've been a country for all of three months. If you want a steady job and work experience, try China or Singapore.
Most of all, just expand your horizons and start to consider possibilities all over the world. Ignore your friends and family, they'll just try to talk you out of it. And then, in a few years' time when you're wildly successful, they'll pretend like they supported you all along"
The good news is that certain parts of the world are BOOMING, and are providing interesting opportunities for young people from western societies:
"The opportunities are out there. Down here in Chile, droves of new software and biotech companies are flourishing.
My friends in Singapore tell me that they can't find enough workers to hire in finance, real estate, and personal services.
Unemployment in Hong Kong is just 3.3%.
Our partner Tim Staermose recently wrote about several business opportunities in the Philippines that he is personally financing.
And this Friday, our monthly SMC teleconference is dedicated to unique opportunities in Mongolia."
"In the 14th century, Europe was a disgusting backwater where millions of people were dying from plague, starvation, and ridiculous wars.
China, meanwhile, was among the most advanced civilizations on the planet.
To a wealthy merchant in the Ming Dynasty, it was INCONCEIVABLE to think that the west would someday dominate the world. But it happened.
Thanks to modern technology and transportation, change happens even faster today. Nations can rise and fall in a matter of decades.
Right now as the west declines, it's Asia's time. And Mongolia is well-positioned to be one of the greatest beneficiaries of this trend."
