Archive for October, 2008

Your Bottom Dallar

October 11, 2008 2 comments

What do you do when you go bank corrupt? Borrow from someone even more in debt? That is what is playing out now over the 700 billion the US is giving banks, and other countries around the world are imitating. The US is trillions of dollars in debt, ten point two trillion, so much so that the NY time square clock has run out of digits.

The government has already spend/lost 2 trillion dollars from their pension fund now they want to take from tax money, the money that usually goes to running the country, government salaries, politicians, and pet projects and give it to the banks who mismanaged the rest of your salary already.

Doesn’t it frighten you how fast stuff hits the fan, and all of a sudden these big corporations like AIG and others just fold? More alarming are the sweeping changes that happen in these bills in congress that give the government so much power? We saw this on 9/11, a new “homeland security department”, now with this financial problem they have a new “Office of Financial Stability”. And now will get ownership stakes in these banks. All they need to do is cause some identity problem and everyone will be lining up for a chip in their heads by the new “Department of Registry”, Remember Dad’s letter “Registration”.

The few man at the top just keep on getting fewer. We always read about rich bankers and huge bonuses, but why in the last few years have we seen these rich millionaires willing to work in government for peanuts? First over were John Snow (a director of banks and corporations), then Paulson and his little squire Neel Kashari a 35 year old who is in charge of distributing the 700 billion both left Goldman Sachs for government salaries, did they know something we don’t? Why would you choose a 6 digit gallery with a sinking ship when you had a 9 digit one, yachts and everything, smells fishy?

Oil was going skyrocket all summer, over one hundred dollars a barrel, the media hyped it up and it was a real problem for us at the pump, now it is dropping and the media is making a big deal that it is falling and we are able to actually get something for our money these days while it is still work the paper it is printed on, I’m sorry the rich companies are not making the huge profits they made off of us all summer but for the media to use words like “plummet” because gas is finally at a 1 year low and $80 a barrel is still not as low as it was in the recent past and they are far from losing money off of it.

I’m a little surprised the Family is not more focused on this event, this is as big a deal as the Great Depression that hit the US 70 years ago, we have never seen anything like it in our history and we should be preparing and stocking up while our money is still worth it in shops, Dad always reminded us and I know it will hit us very hard in this winter/Christmas once the ripples reach the little guys, once shops and governments run short and cash is scarce, I’m not a doomsday person but I do understand billions and trillions don’t come from the rich guys pockets but ours and bills and consumer products are what make cash, these banks and their international reach will start collecting loans and investments from small businesses and retailers and many will go bank corrupt and others will be the monopolies that will be able to put the prices anywhere they like.

I live in europe, last year I was back in the US and paid in dallars, they got me lots of stuff there that was both cheeper price-wise and compaired to Euro exchange rates. I have a one dollar bill in my wallet left, it is not worth changing into Euros or my local currency so I want to see how worthless it gets in the next little while.

Enjoy the modern conviniances while they are still around, this is an exciting time in world history as we know the happy ending, but it will hurt and change our lives once the crunch comes to our local shops and lives.

The end is here, it’s only the begining!

Categories: World on a wire