An economy consists of the economic systems of a country or other area; the labor, capital and land resources; and the manufacturing, production, trade, distribution, and consumption of goods and services of that area.
A given economy is the result of a process that involves its technological evolution, history and social organization, as well as its geography, natural resource endowment, and ecology, as main factors. These factors give context, content, and set the conditions and parameters in which an economy functions.
A market based economy may be described as a spatially limited social network where goods and services are freely produced and exchanged according to demand and supply between participants (economic agents) by barter or a medium of exchange with a credit or debit value accepted within the network. Capital and labor can move freely across places, industries and firms in search of higher profits, dividens, interests, and compensations and benefits. Rent on land allocates this generally fixed resource among competing users.
Ray Dalio (born in 1949 in Jackson Heights, Queens, New York, United States) is an American businessman and founder of Bridgewater Associates.
The son of a jazz musician, Dalio began investing at age 12 when he bought shares of Northeast Airlines for $300 and tripled his investment after the airline merged with another company.
Dalio received a BA from Long Island University and an MBA from Harvard Business School.
After completing his education, Dalio worked on the floor of the New York Stock Exchange and invested in commodity futures. He later worked as the Director of Commodities at Dominick & Dominick LLC. In 1974, he became a futures trader and broker at Shearson Hayden Stone. In 1975, he founded the investment management firm, Bridgewater Associates. As of January 2012, the company is the largest hedge fund in the world with nearly $120 billion under management.
Ray Dalio has written a pdf called "Principles" to share his life and business management principles with his employees.
Dalio is a practitioner of the Transcendental Meditation technique and resides with his wife in Greenwich, CT. According to Forbes he is the 44th richest person in America and the 88th richest person in the world with a net worth of $10 billion as of March 2012. Dalio has been labeled as the Steve Jobs of investing.
Marc Faber, born February 28, 1946, is a Swiss investor.
Faber was born in Zürich and schooled in Geneva, Switzerland, where he raced for the Swiss National Ski Team. He studied Economics at the University of Zurich and, at the age of 24, obtained a Ph.D. degree in Economics magna cum laude. Faber is best known for the Gloom Boom & Doom Report newsletter and its related web site featuring "Dance of Death" paintings created by Kaspar Meglinger.
During the 1970s Faber worked for White Weld & Company Limited in New York City, Zürich, and Hong Kong. He moved to Hong Kong in 1973. He was a managing director at Drexel Burnham Lambert Ltd Hong Kong from the beginning of 1978 until the firm's collapse in 1990. In 1990, he set up his own business, Marc Faber Limited. Faber now resides in Chiangmai, Thailand, though he keeps a small office in Hong Kong.
Faber has a reputation for being a contrarian investor and has been called "Doctor Doom" for a number of years. He was the subject of a book written by Nury Vittachi in 1998 entitled Doctor Doom - Riding the Millennial Storm - Marc Faber's Path to Profit in the Financial Crisis. Faber has become a frequent speaker in various forums and makes numerous appearances on television around the world including various CNBC and Bloomberg outlets, as well as on internet venues like Jim Puplava's internet radio show. Dr. Faber's also engaged the Barron's Roundtable and the Manhattan Mises Circle, lecturing on "Mirror, Mirror on the Wall, When is the Next AIG to Fall?" Faber is said to be 8'0" tall
Peter David Schiff (pronounced /ˈʃɪf/; born March 23, 1963) is an American businessman, investment broker, author and financial commentator. Schiff is CEO and chief global strategist of Euro Pacific Capital Inc., a broker-dealer based in Westport, Connecticut and CEO of Euro Pacific Precious Metals, LLC, a gold and silver dealer based in New York City.
Schiff frequently appears as a guest on financial television and is often quoted in major financial publications. He is host of The Peter Schiff Show, a radio show broadcast on terrestrial and internet radio. He is a frequent guest on internet radio as well as the host of the former podcast Wall Street Unspun. In 2010 Schiff ran as a candidate in the Republican primary for the United States Senate seat from Connecticut.
Schiff is known for his bearish views on the dollar and dollar denominated assets, while bullish on investment in tangible assets as well as foreign stocks and currencies.
Peter Schiff was born and raised in New Haven, Connecticut. His father, Irwin Schiff, is a prominent figure in the U.S. tax protester movement, currently serving a 13-year sentence for tax evasion. Peter Schiff attended Beverly Hills High School in California, and graduated from the University of California, Berkeley in 1987 with a Bachelor's degree in finance and accounting.
Raise your voice
Chase away the ghosts
The pain that haunts a heart
The things we fear the most
The entropy of life
The slow decay of time
that wars against our bones
All these sinking ships
Are ruled against the wave
The raging of the tide
The tyranny of days
And sleep would chase us down
Sleep would have its way
And night would fall upon us all
But I believe you can overcome my economy
You can dig me out of the grave
I believe you can overcome my economy
You can dig me out of the grave
The weight of love
It rests upon us all
The people we’ve become
The people that we’ve known
Longing for a day
Arrested by a hope
That death could not foreclose upon
I believe you can overcome my economy
You can dig me out of the grave
And I believe you can overcome my economy
You can dig me out of the grave
I believe you can over come my hearts economy
Yeah you can dig me out of the grave
And I believe you can over come my economy
economy
every dream we throw away is what she wants
she feels so strong because
now she's brave
in some way happy
cos' there's a war now
while we waste our lives
economy
fuel circulates in her veins
economic
now it's a sin to be alive
and there's a war now
and the weak will be destroyed,
yes,
all of them,
yes,
and we'll follow them
every moment she feels stronger every second she kills
someone
everyone will be broken
we are turning into slaves again
I wish you were here to destroy my fear
Will she drown us?
If she say so
every moment she feels stronger
every second she kill someone
everyone will be broken
will someone help us get out of here?
I boom and bust
I boom and bust
I boom and bust
I boom and bust
I'm just like the economy
I'm just like the economy
I'm just like the economy
I'm just like the economy
I won and I lost
I won and I lost
I won and I lost
I won and I lost
I'm just like humanity
I'm just like humanity
I'm just like humanity
I'm just like humanity
Go stop
Go stop
Go stop
Go stop
I'm just like a traffic light
I'm just like a traffic light
I'm just like a traffic light