Showing posts from August, 2011

Mining in Mongolia, The Horror Story

'Mine-golia': Across the steppes, new wealth emerges

I saw this story on CNN this morning. Meant to be a “feel good” piece about wealth being discovered in a poor nation of Mongolia. There are a few things about it that are spun as positive but IF one takes the long view at it, the whole thing is more of a curse then a blessing. Those of us from Northern Ohio can relate.

Mongolia past and present:
If you are claiming to make life better for a people, it is important to know their status now as well and have an agreement on what “better” mans. Mongolia is a predominantly nomadic herding and farming culture. It has been this way since at least its founding by Genghis Khan in the 1200’s. Their per capita GDP is $4000 (compared to the US $47,000). They are a sustainable agricultural society. What individuals don’t supply for themselves they get from bartering. That is a brief economic overview. Culturally they are predominantly Buddhist and atheist. (Thank God. We are no…