Remote is not so remote. You can get real time, deep coverage, in text, photo and video formats, from any corner of the world. There is real time cheap to free communication.
The so called First World collapsed a few years back because it did not invest its surplus trillions into Third World infrastructure that give guaranteed 10% annualized returns.
Instead those surplus trillions were used to torpedo the basic financial infrastructure in the First World. Shady real estate investments that collapsed like a house of cards.
Real estate is thought of as a safe investment. The house is still there no matter what happens. That is the thinking. What if the house is there but it lost 80% of its value? Is the house still there? If you think it is still there, I call it gold standard thinking. Getting rid of the gold standard was a good thing. Not all people, including some people in Congress, agree.
Bypassing Wall Street
How can Wall Street do the damage it has done and still not be taken over by a whole new generation of finance startups? It is like if Blogger were to refuse to let you migrate all your content to Wordpress. In a more of a market economy you should be able to move your money from one bank to the next in a flash.
A globalized world does not quite jive with the nation state moat. And damage happens.
There is global infrastructure, and there is global microfinance.
