As far as the financial markets are concerned, there is much to indicate that we are caught up in a raging mountain river which is digging a new bed after heavy thundery rain. During the past few years, individuals, enterprises, markets, institutions and governments have been up against a raging current of change in the conditions under which they operate.
Remaining passive in the face of such a development is fatal. It is imperative to take an active role in shaping those conditions or, at least, to look ahead and adapt to the given circumstances.