This just in from Bloomberg News- $7.76 trillion in guarantees (from the US government) For more about Bloomberg see wikipedia Bloomberg L.P. You heard it from the horse’s mouth and the horse is worried. Will the US Treasury itself collapse under all this give away?
So what’s going on over in Japan at the G8 summit? What are the big shots doing over there? Few follow these mysterious proceedings in the press because it all seems so inscrutable. Besides, we are taught to believe, the rich and powerful kind fathers that they be know what they are doing and all will certainly be worked out for the rest of us for the best.
So let’s cut through some of this crap for a sec and think about it a little, why don’t we? It is not that hard to see what’s really going on, since all one has to do is occasionally look at the business sections of the press and there we see an increasing panic setting in. Will there be a CRASH is the big question? And the business press increasingly is aware that YES, there will be. Why is that?
The G8 has 3 major problems it is dealing with, and they haven’t a clue in how to successfully manage any of the 3 crises! Let’s list the BIG 3 problem areas then…
1) Declining world energy supplies in oil, with resulting rise in prices (including food items) due to this. Energy is needed for movement. 2) Impending world ecological collapse due to centuries of over exploitation of natural resources. Ecological stability is necessary for life. 3) Economic Bubble due to be burst soon. Markets do not have any relation now to economic activity actually necessary for human well being. Two big examples are the US ‘health system’ and the Pentagon managed military industrial welfare system for the big corporations. Two gigantic overgrown leeches on world economic activity.
So what will the G8 predictably do to deal with these 3 areas of crisis? Will they do anything different? The answer is simply NO, they will not, and that is precisely why the business sectors themselves are beginning to panic. They see it as simply that there is nothing that they can do, and they are right. Under their guidance, or lack of it, the world will simply begin to collapse big time. It is up to the little people (who the big people have total contempt for despite having no answers for anything themselves) to do something about it, or we will all perish.
Meanwhile, go shopping (while you still can) or watch some more TV. It beats being thrown in jail.