The world is about to experience an unprecedented consumption boom, which presents both challenges and opportunities for investors everywhere. Animal protein consumption, energy, air travel, health care, and education are some of the most relevant sectors involved as the upcoming changes in population and income collide. ... The world in general—and India in particular— is in the midst of a fascinating transition right now. Taking a step back from our day-to-day focus to view the bigger picture can offer a different perspective on the dynamics of various countries in a volatile and uncertain world. Envision a map that is drawn to represent how economists view the world. Imagine a map on which the area occupied by a country as a percentage of total area is equivalent to its percentage of global GDP. Compared with traditional maps, in which country sizes are based on land area, the United States, Europe, and definitely Japan would appear bloated. Other regions would look smaller—for example, Africa or India. Africa especially is quite difficult to see on the economists’ map. ... Now, imagine another map on which land area is proportionate to the country’s percentage of the global population. If the United States is viewed this way, it will be much smaller than on the economists’ map. In the population map, Africa would become relevant and uncertainties about the importance of India and China would disappear. Focusing on the differences in these maps may permit us to realize our biases in viewing the world.
On August 27, 1883, the Earth let out a noise louder than any it has made since. ... It was 10:02 a.m. local time when the sound emerged from the island of Krakatoa, which sits between Java and Sumatra in Indonesia. It was heard 1,300 miles away in the Andaman and Nicobar islands (“extraordinary sounds were heard, as of guns firing”); 2,000 miles away in New Guinea and Western Australia (“a series of loud reports, resembling those of artillery in a north-westerly direction”); and even 3,000 miles away in the Indian Ocean island of Rodrigues, near Mauritius (“coming from the eastward, like the distant roar of heavy guns.”)1 In all, it was heard by people in over 50 different geographical locations, together spanning an area covering a thirteenth of the globe. ... Think, for a moment, just how crazy this is. If you’re in Boston and someone tells you that they heard a sound coming from New York City, you’re probably going to give them a funny look. But Boston is a mere 200 miles from New York. What we’re talking about here is like being in Boston and clearly hearing a noise coming from Dublin, Ireland. Traveling at the speed of sound (766 miles or 1,233 kilometers per hour), it takes a noise about four hours to cover that distance. This is the most distant sound that has ever been heard in recorded history. ... A volcano on Krakatoa had just erupted with a force so great that it tore the island apart, emitting a plume of smoke that reached 17 miles into the atmosphere, according to a geologist who witnessed it. You could use this observation to calculate that stuff spewed out of the volcano at over 1,600 miles per hour—or nearly half a mile per second. That’s more than twice the speed of sound.
The very nature of these warships is what makes them both so difficult to remove from the ocean floor and so appealing to illegal salvagers ballsy enough to try. Consider this: The Perch, which was as long as a football field and 26 feet wide, displaced nearly 2,000 tons when submerged. The Encounter and Exeter belonged to a robust class of British destroyers that carried torpedoes, anti-aircraft weaponry, and a complement of about 150 sailors each. The De Ruyter was the largest of all, with a length of more than 560 feet. All now gone without a trace. ... Even in poor condition, gleaned steel fetches about $150 a ton in international markets. A recovered destroyer can easily result in a profit of $100,000 ... There’s a ton more money to be had if you find ships built before the dawn of nuclear testing. Steel is made by melting iron at super-high temperatures and infusing it with carbon. To make sure those carbon levels don’t get too high, steelmakers blow oxygen into the mix, along with ambient atmospheric particulates. That includes radiation. Natural elements like radon create low-level natural radioactivity. We increased those levels exponentially when countries like the United States and Russia began nuclear testing in the mid-1940s. France, England, and China jumped on the bomb bandwagon a few years later. And with each detonation, radioactivity levels in our atmosphere increased. That meant each time steelmakers were blowing oxygen into new steel, they were also blowing nuclear particulates into it. ... That’s not true for the steel used to fabricate pre-1942 vessels, which is virtually radiation-free. And its clean status makes this metal particularly valuable for some technical applications of nuclear medicine and, more commonly, the development of nuclear energy and weapons.