Two opposing forces act on the economy, efficiency vs. sturdiness. I was made aware of this by an article about investing strategies comparing leverage (efficient) vs. cash reserves (sturdy). An important aspect of fractional reserve banking is the level of reserves. Globalization has increased the world’s economic efficiency at the cost of sturdiness. METaR has discussed the effect of just in time manufacturing. It is now showing up in Russian commercial aviation, airplane leasing, and aviation insurance.
WHY Russian Aviation is CORNERED!
In todays video I will list all the different ways the Russian airlines would be able to keep operating through the sanctions. I will also explain why making spare parts for aircraft Is not as easy as It sounds.
Trade was the lifeline of this region (globalization)
2. The Bronze Age Collapse - Mediterranean Apocalypse
Sometime around the year 1100 BC, right at the end of the Bronze Age, a wave of destruction washed over the Eastern Mediterranean. It wiped whole civilizations off the map, and left only ash and ruin in its wake.
This catastrophe, known as “the Late Bronze Age Collapse”, has become one of the enduring puzzles of archaeology. I want to explore how so many societies could collapse all at once, and seemingly without warning, as well as examine the lessons it might teach us in our increasingly globalised and interconnected world.