Editor's Note » Dec/Jan 12

“We believe the debts of the following nations, among others, are not sustainable in the current economic environment: Greece, Italy, Japan, Ireland, Iceland, Belgium, Portugal, France...”

It’s a frightening statement, made even more so when you know that it was said by Kyle Bass of Hayman Capital Management in the company’s annual letter to shareholders. Like almost no one else, Bass understands the big picture, predicting the housing collapse and making his investors a lot of money in 2008, and has been in front of the curve throughout this European debt crisis.

In a candid interview with James Rickards, author of Currency Wars: The Making of the Next Global Crisis, monetary policies home and abroad have to be examined carefully in order to quell the damage and how money is now used as a weapon for protecting national interests.

Although we cannot help situations in countries a continent away, here at home we can continue to export, import, manufacture, and consume, and as these pages of the American Business Journal can attest to excellence in business domestically.

It’s not a product of chance that the U.S. has such a strong entrepreneurial base. As we learn in our conversation with Kathy Cloninger during her last week as CEO of the Girl Scouts, over 70 per cent of female business owners in the U.S. are former Girl Scouts themselves, having honed their skills selling cookies as youngsters.

Something to think about next time the Girl Scouts come to your door.

Anna Guy