For real, Dominique?
To quote him and the Telegraph’s article:
“He said: “Intensifying solvency concerns about a number of the largest US-based and European financial institutions have pushed the global financial system to the brink of systemic meltdown.”
The IMF also warned global equities could plunge by a further 20 per cent in the coming days unless governments deliver concrete action to address the crisis.”
You know what that means right? The majority of the world is going to end up paying for the malpractice of the “ruling” few. And malpractice I believe is the correct word. Let me pose something to you – your family doctor is insured and credentialled to make sure that even if he manages to screw up your kid’s (or your own) tonsillectomy, you’ll be paid in full for all expenses – and you’ll probably get a fat check at the end of it all.
So why do I have a feeling that this upcoming worldwide regulation and nationalization of finance is going to be executive produced by the Majority At Large, i.e. you and me..and Eddie in South London…and elsewhere in the world, especially the poorest nations?
Honestly – I might not be the one to talk about people’s rights and fair play, but people need to wake up and take control of their finances. And I don’t mean just your own – we need to be questioning the very people who question US about our credit and finance issues, when their practices are the ones that put us at the most risk for failure. It’s the people that need to take grand, panoramic view of their world and come into full view of what’s been happening.
It’s been my understanding that my blog has been looked at by some people around here, and that I should probably be careful of what I write – so I will. Honestly, I have no grand visions on what the government’s financial state should end, mostly because I’m having issues controlling myself from buying multiple pairs of Y3 adidas, much less trying to understand what the government should do with our money.
I do think the banks got (and still are) greedy. I do believe the FED is unnecessary, and I do believe that in the end, they really don’t care about US having to pay for all of their mistakes.
My thing is this…Trust the people. At the end of the day, we are going to drive everything anyways. WE are going to have to buy food, clothes, the stocks, gasoline, etc. And they are going to try to grind us – yes, even me over here (and they actually already have. Another story.) THEN what we have to do is stand up and make sure we get a fair deal, or at least the very best deal we can get.
If we allow ourselves to be completely railroaded, they will have pile-driven us so deep that we will have to basically succumb to every demand of us, just for help. Instead of the IMF or World Bank “saving” a country – they (with a through the governments) will make plans/bills to where WE are the Ecuadors and Argentinas, individually. And we obviously won’t be able to pay – so they will basically enslave us. We have to prevent this.
I’ve said for a long time that it’s getting scary out there folks. I don’t have a need to be listened to like some sage, as I’m clearly not, especially as a 29 year old college dropout. I’ve got my own road to run, just like you do. But know I hope you’re looking up from the ground, and you’re seeing what I’m seeing.