HELLO planet, For many years I have had opinions and will now expand my platform.
Over most of my 58 years I have been interested in how stuff works. And watching the economy is my greatest pastime except for Rana, ..... Sandinistas,... golf,....bridge,....etc. Around mid August, 2007 I stayed up all night glued to my internet connection and watched a very, very serious explosion of the world financial system. Maybe like yesterday's shelling of the South Korean Island. Few people, including our media really paid much attention. But for myself and hundreds of thousands of people in every nation in the world... we thought the game was up. We intelectualy were certain that the system made no real sense. We all noticed over the past 5-10 years, everyone had way, way better stuff. In our household we went from my mother's 1988 Mercury Topaz to a year and a half old Toyota Corolla. We knew that America could not afford a war, we knew America bought half a trillion dollars of crap more that it sold each year, we knew the government had slashed taxes (actually I did not pay enough attention to that).
We all new that you can not spend more than you earn every year. We all knew that you can not borrow money from your neighbors in perpetuity. We new we could not make and sell less and less stuff to our neighbors but buy more and more. We knew for sure that our best companies opening new production centers thousands of miles away while closing ones back home was bad.But, we also hoped that people in charge must have some expertise and understanding of what was happening. They must have. They turned out to be either crooked or stupid. (or sheep)
This was going to happen...it may have played out a little different had we been less brainwashed. But that was not going to happen in the most brainwashing environment in human history... For christsakes.. Britain is having a bounce in the markets because of a Royal Wedding. They, as we know, are completely broke.
Iceland done, Greece done, Ireland done, Portugal next, Spain.... Italy...Britain...France... They are all toast. Done.
We all will admit that America is toast. But we have seen them escape before... And they are great. But ask around. Those that are keeping clear of FOX and that can do arithmetic realize the dollar will end up being toilette paper. Sorry, we know everything elese but can not see a complete collapse of the dollar.
There are probably a thousand very big currency desks around the world that keep a human trader at the keyboard 24 hours a day 7 days a week. Think of them as nervous gun slingers. Something will...must create a stampede for the door. The first trader out the door will be seen as a hero (or a traitor, ie. Soros) and the last an idiot (ie Bush). America's liabilities are enormous. They borrow 100 to 200 billion dollars more every single month. Every single year.. The Irish spectacular meltdown was 100 billion dollars. That is one month or less of the US borrowing. Ireland will balance its' budget in 4 years. The us will never. At least that is what the government says...
The next chapter may actually be wonderful. There is a good chance. Rich with less, poor with less and the middle class with less. Cheaper baseball tickets. Fewer cars on the road. More home gardens and fewer world cruises. It will probably be ok. But the toilette paper will need some softening.
I run www.giftsfilms.com
