Disaster in South Korea
Last week the world saw clearly what happens when a nation looks to Russia for technology. That nation crashes and burns spectacularly.
Quite frankly, we see it as being not just ridiculous but blatantly offensive for an impoverished, backwards nation like Russia to be engaged in any way in a space program. The billions of dollars Russia spends each year developing missiles and rockets, all in a frenzied and desperate desire to compete with the United States, should instead be spent on meeting the actual needs of the people of Russia.
South Korea vs. Russia? D’uh, no-brainer!
The nation of South Korea has less than 10% the territory and barely one-third the population of Russia. South Korea has virtually no natural resources, while Russia is flooded with them. Yet, the tiny Asian nation produces $800 billion in wealth each year according to the CIA, while Russia produces just $1.2 trillion. That means that on a per capita basis South Korea ranks #40 in the world, while Russia languishes at a pathetic #58.
And that’s just for starters, of course. South Korean churns out all kinds of desirable consumer products, including a vast array of automobiles, while Russia produces nothing at all that the world wants besides oil and gas. South Korea is a vibrant democracy, while Russia languishes in the KGB-dominated dictatorship of yesteryear.
So it could hardly surprise any informed intelligent person to learn last week that the investment experts at First Trust had decided to boot Russia out of the so-called “BRIC” conglomeration and replace it with South Korea. What used to be BRIC is now BICK. Bye bye, Russia.