It all comes tumbling down
As incredible as it might seem for some, others like me have been convinced we were on this path for years, it appears that the end of the financial world as we know it is upon us!
How many headlines does one need to point to the obvious conclusion? This economic crisis is systemic, worldwide and now has a life of it’s own. The crisis cuts across almost every institution, banks, central banks, governments, politics, judicial system, stock markets, commodity markets, gold, silver, currencies…you name it and the effects or symptoms of this disease exists. It is impossible and imprudent to either ignore or explain away using all too familiar arguments fraught with illogical premises.
The Euro Zone crisis is the latest in a series of catastrophes beginning perhaps with the 2008 debacle that one might say was the trigger event that continues to bring us ‘gifts’ of the most rancid sort.
The best part of this process has been that ‘The People’ seem to have found some backbone (probably because they haven’t had enough to eat and their backbones are showing now to the point where it is impossible to ignore the causes) and the multiple ‘Truths’ that are coming out about the way in which the crisis and the institutions at their center are being dealt with by ‘OUR’ government!
The People regaining their voice world over is heartening. I support these acts of disobedience and sincerely hope that they are not hijacked by those that lie at the heart of our current malaise. We need only look to the Arab spring and fall and the Occupy Wall Street movement to see the Voice in action.
The dark side of people finding their voice is the all too frequent, expected but appalling, reaction of the ‘establishment’ as they send their minions out to protect their intersts ibid the horrifying scenes of pepper spray, rubber bullets and other examples of excessive force by the ‘storm troopers’ clearing out the protesters over the past several weeks. Of course, these actions are mild compared to the backlash at the people in Egypt as Arab Spring turns into Fall…multiple deaths are occurring everyday.
The Truths that are beginning to come out range from the continued abuse of the American Peoples ‘good nature’ as we see Fannie Mae and Freddie Mac execs receive obscene, multi million dollar compensation packages even when they continue to lose BILLIONS OF DOLLARS. Their excuse: Wall street pays big wage to those responsible for large amounts of dough…hey I say let Wall Street have these bums!
Further, we have more and more information as to just how deep the pile really is and it is deep…from outright criminal activity by banks to the regulatory agencies willing to turn a blind eye and the judicial/justice system willing to uphold all of it! Of course, there have been a few exceptions of judges willing to stand up to the SEC and other regulatory agencies and the Too Big To Fail’ banks.
My opinion: Someone needs to go to jail and pretty darn quick! There are multiple individuals that surely qualify! Certainly there are numerous firms that not only could use some hard line tactics to teach them ethics but also punitive fines, both against the individual and the institution, for such unethical behavior.
Unfortunately, there are few news outlets that will permit their reporters to actually report these events as they play out. Fortunately there are some as in Matt Taibbi of the Rolling Stone that has done and continues to do an outstanding job uncovering and reporting these incredible activities!
In my opinion it is a time for BIG CHANGES all over the world and in every sector of our cultures, banking, government and even the way in which people will interact with whatever system we end up with. It is time for ‘The People’ to take responsibility for the state we are in and move for conscious change!
In the meantime, gold, silver and some stored food never looked better…Be Prepared!