What year is this? Are we on the bread lines? Is it 1930?
That's it, the great depression is coming!
The livelihood of every person who ever thought that their assets were protected by the banks have woken up in the last few days to a new nightmare.
The US government have basically done their public wrong.
One of the biggest failures in history is down to the US governments inability to put any kind of regulation into place that would guard against market instability.
The fed apparently has committed over a trillion dollars to bailing out several financial institutions. Just how much money does the fed have? How long can this go on?
Subprime mortgages, commercial real estate, car loans, credit terms...these all exist as fuel for the banks, but when money is borrowed and can't be paid back, what happens?
Well, you have monster Wall Street companies like Lehman closing, AIG requiring help from the government in order not to become defunct and so on and so on.
As the media has been saying all week From Wall Street to Main Street is inevitable.
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1 comment:
Thanks for visiting this topic. You opened the door of opporunity, and I will now walk through it.
My words would hold more clout if I was involved with Wall Street and big business and could offer an assessment from what I have personally experienced, however, I am not capable and must try and make sense of what is happeneing from various 3rd parties in the media.
The fine line that is frequently overlooked in the news is that the Federal Reserve Bank is not a branch of the US Federal Government. It is a branch of the international banking system which abides by it's own Maritime Law. It is run by private investors and represented by handpicked individuals.
What I failed to mention in my last comment is that some argue that these huge financial system failures were actually preplanned by design to strengthen the common man's dependence on the system, to rely on banks to bail them out of their own self-inflicted financial crisis.
The argument can be expounded to claim that this is to weaken the US dollar in favor of a global freindly currency issued by the same banks that are destroying the current one in an attempt to circumvent various national customs that complicate trade and various billionaire's efforts to expand their global markets.
I'm not sure what is exactly true, if our currency is being intentionally eroded, but if that's not the case I would say that those in power who claim to represent the good of the people need to be fired due to poor performance. How can the common citizen, you know, the 90% of us, not have a defensive posture against a goverment that seems completely inept and out of touch with reality.
Ultimately it causes the commonfolk of us to become ignorantly complacent as if they have no power in this great de-mock-racy of ours, and mos tof those who do engage the dialogue tend to repeat what they hear instead of inquiring for the solution.
The way I see it is this - since 1900 it seems each generation of Americans must face a financial crisis. That's just the way it goes. I am one who believes they are intentional, like a master prodding his flock as if to say, "Remember who is in charge", but it is spun like some kind of unpreventable, unforeseen catastraphe that only the poor seem to suffer through.
Just my opinon.
D
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