Dont Stop the World -- I Dont Want to Get Off Just Now: You can think of financial systems as akin to a spinning top. If you are on, or somewhere inside the top, then you will probably experience its motion as a permanent attribute of the environment or universe in which you find yourself. Time will seem to slow down to the point where you can experience the tops rotation as a state of stability and permanence. so, you pretty much expect the rotation of the top to never end. It is pretty inevitable, however, that at some point the top will begin to slow down in its spinning, and you will find yourself experiencing its wobble as a fear of falling. Thats what appears to be happening to the world economy today. It is no longer working as reliably as it has in the past. In essence, the top is beginning to wobble. We are experiencing this wobble - in terms of the default of private and public pension funds, the intentional efforts by a major political party to collapse the Social Security system, the failure of businesses to reinvest in the economy or government to invest in our infrastructure, the ever increasing willingness by banks and corporations to place shareholder value ahead of product quality, the indecisiveness of governments as to whether to bail out or bail in failing financial institutions, which, in turn deliberately undermines the integrity of the FDIC and FSLIC both of which protect the life savings of small savers, and the shift from a mixed/free market economy to something more akin to a new feudalism. And what began as a mild feeling of losing ones stomach on an elevator is beginning to feel more like a reeling car out of control on a major freeway....bz
Posted on: Thu, 08 Jan 2015 05:03:42 +0000
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