What is your take on the economic crisis the world is in?
I have heard many opinions and it gets interesting to hear what everyone has to say.
Good question, but where do I start?! Basically I don't believe we have bottomed out yet. I think it is going to get much worse before it gets better. I think we may even see the end of fiat currency and the beginning of a new age, where the gold standard is reinstated. At least I hope so!
But before that happens paper money will be printed into oblivion...
Sorry to be so negative, but that is what I see happening. It has happened numerous times in the past, all over the world, but since when have governments learned economic lessons from history???
It is the end product of greed over need, the world for far too long has been edging toward the economic breakdown we are seeing today.
Too many of the lower and middle class are being oppressed in order to cater to those on the welfare gravy train. We need to put America back to work and bring the jobs back to American shores.
this is the result of people letting themselves become sheep. by sitting back and letting ceo's, entertainers, bankers etc., make absurd amounts of money while we barely survive we are now paying the price. we can blame it on whomever we want but in the end it's all our faults. we rant and rave about how the government is to blame then we go and buy things made in china to save a dollar. we curse big money ceo's but then we let our governments give these same people huge bailout packages. we hide behind unions thinking they give us a fair chance but watch as the union head makes $500,000.00 a year. lets keep blaming everyone else and we'll see where we are in 20 more years.
Life is a long learning period. If you want to stay" on the ship" you must learn whats rigt in this moment. Not what was right a year ago. People just goes on in old footprint and think that everything will be as usual. They continue to shop with borrowed money and waste on the earth supplyes. I think it´s time to stop this madnes. I used to say to people who always want moore and moore." You have a better life then 90% of the people on earth". Think about the future and make your decision after whats relevant today.
I agree with Mr. Erlandson. This crisis was created by sneaky wall street tycoons, politicians, and bankers preying on the public that followed the old paradigm of insvestment and home ownership. They counted on the public to continue to "buy" into home ownership as the ultimate success. And everyday folks followed like sheep creating hyper-inflated real estate prices and home mortgage loans that people truly could not afford.
We must follow a new way of measuring success and investments that will be lead by experts that are wanting to help you and me make smart decisions and teaching us to be wary of unscrupulious financial advisors.
As my kids would say, "deep doo doo." I have one of the Zimbabwe One Hundred Trillion Dollar bills (no joke) that will now purchase less than a cart of groceries. In 1971 we, in the US, had gold backing our currency. Now we have the "faith and confidence" of the US government who is printing trillions of paper dollars. Need I say more. Hmmm....do we have inflation ahead. If a government owes 6 trillion dollars and create 20% inflation (like the US had in 1980) for three years, then they will reduce their debt by 50% or 3 trillion dollars. Politicians might consider it a necessary way to reduce debt but it is on the backs of the citizens, who in the end, always foot the bill.
The economics of America have a lot to do with the global economy. Right now, even though America is drowning in debt, the dollar and its buying power remain elevated. That means other countries give up a lot of goods and services for a few American dollars...there essential less trickle down of American capital into the world economy. This is the basis for the treasury continuing to print money at the direction of the Federal Reserve. By dumping dollars into our own economy we drive down the value of the dollar because there are more of them in circulation. Eventually this decays the buying power of the dollar and global markets begin to get some relief. Unfortunately that same move spells "inflation" for the Americans...not a good thing because we then get very little for our dollars in pocket. In essence we are attempting to balance the dollar in two different economic enviroments at the same time...the global economy and the national economy. Add the the financial woes that other countries have such as Greece and you have a real mess. WB
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