Wise Words from Karl Lagerfeld

In order to be a successful investor you must appreciate that good advice can come from many sources. Running a country through a global credit crisis is no different and leaders would do worse than consider a suggestion from this fashion guru: Karl Lagerfeld. I have mentioned before in a previous post that we need leaders to exert creative thinking in order to help their national and also ultimately the world economy. Mr Lagerfeld has suggested an interesting proposal to get rich people to spend their money. So I understand, he has suggested that people who earn over a certain excessive amount should be taxed if they do not spend a certain proportion of it. Obviously the implementation of this suggestion needs to be clarified but I think its actually the kind of creative solution we need. Maybe it could be taken even further and applied retrospectively to the banking industry. This would have a massive positive sociological effect, as many investment bankers who have taken large bonus payments during the last 5 years would be forced to spend money to help their national economies. I guess as a hedge fund manager I have to accept that this also should be applied to all areas of finance, including asset management. Mr Lagerfeld suggestion has real merit from a practical to a psychological perspective. Personally my extra spending may not go to haute couture which will probably will disappoint  Mr Lagerfeld, and believe  me my partner definitely does not need haute couture clothing to look amazing, but could go to investing in the economy through loans to small business and entrepreneurs. Bravo Mr Lagerfeld for your creativity.... but I bet you have heard that before!