Daily Market Blog: Primary sector irrelevance
"As you can see, most economists are bleating, the primary sector of the economy experienced the worst of times recently. The more advanced your economy, the more reliant on technological innovations to drive your primary sector, more industrialised machinery doing the logging, the harvesting, the planting, the maintenance (fertilisers and pesticides) and so on. There may be fewer people doing work in that segment of the economy, that does not mean it is not as important to the rest of the economy."
To market to market to buy a fat pig. It's complicated. More complicated than Ross, Joey, Chandler, Phoebe, Monica and Rachel, all sitting on a couch in their favourite coffee shop, trying to figure what life is all about. That show. In the Middle East it is so complicated that when I tried in my simple way to explain, using history going back, I found myself being spun right round. Like, why exactly is Bashar al-Assad and his dictatorship, friends with the Russians? Equally, why do the Iranians support Bashar al-Assad? How did the Daesh (Islamic State - IS) form and take control over multiple territories and millions of people?
If you read about the precursor to the IS, the leader fought against the Russians in Afghanistan. The history goes a little further back than you think. So why did the Turks down a Russian plane yesterday? The Turks suggested that the Russian plane had violated their airspace, multiple warnings were given. The Russians deny they were in Turkey, they were in Syria, which of course is by "invitation". It is very complicated and very tense, the Russians, NATO, Turkey themselves, the French looking for allies in the area, the involvement of the US in that region for decades, the history goes a little further back, thousands of years. Yip, it truly is complicated.