Euro And We Owe, But Who?

If you know where folks' savings went, send me a card.

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A Basic Overview Of The Underbelly Of The World Economy today....


You've heard them, too, so this is my take on the global economy, and how it will play out:

The Euro is up....The Euro is down....The banks are collapsing all over town!

The dollar dipped....The dollar climbed....The dollar's stable, but just for a time!

I know that you know those tales of woe, but where, oh where, did that money go!?

The shekel is shedding....the drachma comes back....the whole world's economy's under attack!

They Occupy Wall Street....the cops are upset....could this be The End, or isn't it yet?

For me there's no worry, my money is safe, I'm just a broke, poor, penniless waif!


How will it play out? I had an uncle who summed it all up quite succinctly: "Blessed be nothings."

I'm jealous for that 'penniless waif. I just visualized scratching out a living on the Barrens of Scotland, but coming home to the love and matching warmth of a cozy fire, a happy wife, and a gaggle of excited children.

The "nothings", however, are the seed beds of potential turmoil and despair which can come from lost expectations, those disappointments and frustrations illustrated in the not-so-long-ago encampments of that Occupy Wall Street Movement. For now it seems to have been leaderless and clueless, but France could tell us something from its history, and I wouldn't even be surprised to hear that anarchists are celebrating daily with High Tea in Dorchester!

When the "sub-prime housing market" (whatever that was) collapsed and billions (if not today's benchmark of trillions) were lost, where did they go? Were they even there in the first place? Was it just a "technical correction" (whatever those are) that showed up simply as a smaller number on some financial fact sheet somewhere?

Americans, Tunisians, and the "man on the street" (or is it "in the square") in Egypt, aspired to today's poorly defined "Democracy"---though America is actually a "Republic," But Tunisia can't collect all the guns, and Egyptians don't really know if it might have been Al Quaeda snipers adding to the turmoil that brought down the Egyptian dictator.

For whatever "Democracy" means in today's world, how can there be anything like "True Democracy" when even the leading G20 economists can't stabilize a country's "bottom line," centuries-old banks have cause to wobble, and potential voters have no more clue than I have about what ballots could do to replace bullets?

"America Land of the Free" seems to have become "America, A Land of Milk...And Money." Anonymous somebodies milked the system, got away with it, and the rest of the world managed to lose a lot of its hard-earned money.

My uncle was right, "Blessed be nothings." All of us may get a chance to experience that blessing. I only pray we may all be as content as the Barrens Scratcher of Scotland.

© 2012, 2016 Demas W. Jasper All rights reserved.


Economics And You.....

We generally know that the world economy is in trouble and could get worse. How much do you know about it?

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Comments 11 comments

clara kish@yahoo. profile image

clara kish@yahoo. 4 years ago from Mt. Perry. Ohio

Hi Perspycacious,I just finished reading your Hub and any way that you look at the situation it is still bad.There seems to be little hope for this world now , we had better plan to be ready when Jesus calls us out of here. What a wonderful world God had planned for us and look how man has destroyed it.How much longer will He put up with all of the evilness in this world now? Clara


Perspycacious profile image

Perspycacious 4 years ago from Today's America and The World Beyond Author

Yes the poem that leads this article is still in tune with today's news. Now the Greek Parliament has voted the painful measures the EU partners have called for, and the partners are once again debating whether they will infuse the funds needed to keep Greece from going bankrupt.


ronaldoh profile image

ronaldoh 4 years ago from England

A nice poem and a great article.I like your vote and a lot of people don't understand the economics,it will be a long way back for the taxpayers that are having to repay their countries debts


Perspycacious profile image

Perspycacious 4 years ago from Today's America and The World Beyond Author

Thanks ronaldoh. I hope our two get some play on your side of the pond, too.


Ruby H Rose profile image

Ruby H Rose 4 years ago from Northwest Washington on an Island

Yikes, I need to read more economics stuff. Love the way you started it with a poem! Great hub too. Thank you so much for coming to Hub Pages from your writing spree.


Pamela Kinnaird W profile image

Pamela Kinnaird W 4 years ago from Maui and Arizona

Looks like you wrote this five months ago and it's still very timely even with today's headlines. I enjoyed this -- including your poem. Much lies on our horizons.


Perspycacious profile image

Perspycacious 4 years ago from Today's America and The World Beyond Author

Pamela Kinnaird W: The EU bailouts were a stalling effort while the key players decide how to handle the economic earthquakes which are still to come. That has kept this Hub current and seemingly prescient. For those who didn't invest at the recent low, fret not, another low is coming. Meantime the operative words are "simplify" and practice "provident living."


Gareth Pritchard profile image

Gareth Pritchard 4 years ago from North Wales

Taking into account that I am lead to believe there is only 5% of the worlds sum total of cash, that's real notes, AKA promises in circulation, then you are completely right. Crash the computers and there is nothing, which means there is nothing in the first place really, only numbers inside machines, not even real promises.

Where did all the money go in the crunch, it didn't go anywhere because it wasn't there in the first place, it was just a big con job. The government relaxed the market controls around lending, so some of them could allow themselves the opportunity cream money off, while the Banks could refinance the system with our money and consolidate their positions.

This I think started in 2003 and in 2004 people who where concerned about the situation, tried to explain where it was all going but most politicians couldn't understand what was being said, let alone stop it, this is because they are generally not very clever people, be careful who you vote for.

It seems to me that the whole thing was legitimized by scientists, to be specific, physicists where employed straight from university's, these graduates where used to create very complicated mathematical models, that where really untested equations. The dim politicians believed the BS because these people telling them where scientists, scholars of great learning, with no practical experience of using such models in a financing situation.

It is my understanding that the regulators couldn't understand what the physicists where doing, let alone regulate them.

The sub-prime housing market shouldn't exist because what it really means is money, AKA promises are being loaned to people who can possibly afford to pay them back, that's why it's called sub-prime because the recipients of the loans are substandard borrowers.

I am sure you know all this to be able to write such a well thought out hub and I am just saying it for those who don't, plus to add to this, it is only my opinion and anybody can have one of those.

Thanks for a great hub and giving me the opertunity to have an opinion, Gareth.

PS, Useful, Funny and Interesting, all voted in upward mode.


Perspycacious profile image

Perspycacious 4 years ago from Today's America and The World Beyond Author

Ruby H Rose: If you are reading this reply two months later, then you know that the economic turmoil continues on in the same direction as when this was written and published 11/12/11. Frankly, for a topic which affects us all, the schools, colleges, and media do a very poor job of casting light on the basic economics that drive the world's well-being! No wonder Karl Marx fooled so many people...and might just fool them again!


Perspycacious profile image

Perspycacious 4 years ago from Today's America and The World Beyond Author

Gareth Pritchard: We made a "tuning fork connection" on this one in time to huker down and prepare to ride out the rough seas ahead. It won't be fun for any of us, and addicts who can afford their fixes now, will find themselves short and hurting in what's ahead. Good of you to dedicate so much of your time and talents trying to make a difference there. Well done.


Perspycacious profile image

Perspycacious 4 days ago from Today's America and The World Beyond Author

Taking economics and the U. S. National Debt with a bit of humor when it is definitely not a laughing matter.

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