For those of you in the crowd who are MA in Economics, I’ll remind you that we’re just at the beginning of financial collapse. Shoving your finger, gloves, basketballs, bumpers, old tires, bins full of clothes from Goodwill and even elephants won’t stop the damn from breaking.
I know … it’s a little gloomy, but I don’t feel like I’m being alarmist AT ALL.
This article outlines the facts that back up the notion that, as the song says, ‘we’ve only just begun’.
This is not gloom and doom…. This is reality and the truth. The financial system will not stabilize. It is being deliberately changed. The Treasury is crowding out corporate borrowers in their quest for liquidity, as corporations rush to raise what funds they can to allow them to keep functioning and so that they won’t be absorbed by an elitist mega-company of our new corporatist state. At the same time municipalities are raising all the money they can to keep from going under having far overextended themselves.
I think the punch line of the article is this: by putting ourselves so substantially in hock to the organizations that will squueze every penny they can from us in terms of interest rates and tight credit, we are surrendering more and more of our freedom (yes, freedom) as we continue down the path of blindly bailing out this company after that.
Save up, pay off and walk away from temptation when you’re out shopping because the only people that will survive this are those who are not spending.