I have been saying for years since 2008 that the crash back then was just a warm up
the policy of trying to bail out bankrupt banks just shifted the debts onto sovereign nations, so instead of banks going under we would have entire countries going under and everything would crash again only this time there would be nothing anyone can do to mitigate it.
If they had allowed the free market to work 3 years ago and banks that should have gone under, went under, we would have had a severe recession/depression but we would of been recovering now with currencies still in tact.
Now we will enter a great depression with currencies failing as well.
Only the naive and stupid could not have seen this coming, its pure common sense that you cannot solve an insolvency problem with liquidity and more debt.
Thats the keynesian response and whilst total debt levels are low it works but when you reach debt saturation as we have now when both the state and the individual is bankrupt it only creates a bigger mess.
We had the choice to take our medicine 3 years ago. We chose 3 more years of
living off the credit card and this is the result.; It was akin to a herion addict wanting one last hit. Well we had it and this last hit has nearly killed us.
It may indeed kill us . This crash is just getting started IMHO
We will retest the lows of March 2009 at some point and stay there and this is all due to not letting bankrupt companies and individuals go broke as capitalism states they should have in a free market. We bailed out the speculators at the expense of savers and in the process destroyed capitalism. You cannot have capitalism with no capital ,but when you artificially force rates lower there is no incentive to form capital. We blew it and allowed unelected officials at the FED and central banks to blow it for us. I was considered crazy when I questioned the Keynesian response years ago , and said it cannot possibly work.
I was told if we hadn't of saved the banks and payed the bankstas their bonuses the system would collapse. On the contrary its BECAUSE of said bailouts that the system WILL COLLAPSE. This is basic maths that seems to escape most people. Sad but true
| Symbol | Name | Last Trade | Change | Related Info |
|---|---|---|---|---|
| ^ATX | ATX | 1,897.00 |  97.00 (4.86%) | Components, Chart, More |
| ^BFX | BEL-20 | 2,020.04 | 95.83 (4.53%) | Components, Chart, More |
| ^FCHI | CAC 40 | 2,790.44 | 145.38 (4.95%) | Components, Chart, More |
| ^GDAXI | DAX | 5,207.09 | 226.71 (4.17%) | Components, Chart, More |
| ^AEX | AEX General | 266.22 | 9.46 (3.43%) | Components, Chart, More |
| ^OSEAX | OSE All Share | 396.90 | 15.08 (3.66%) | Components, Chart, More |
| ^OMXSPI | Stockholm General | 274.29 | 11.33 (3.97%) | Components, Chart, More |
| ^SSMI | Swiss Market | 5,331.30 | 144.04 (2.63%) | Components, Chart, More |
| ^FTSE | FTSE 100 | 5,043.64 | 244.77 (4.63%) | Components, Chart, More |
| FPXAA.PR | PX Index | 903.10 | 25.90 (2.79%) | Chart, More |
| ESI500000000.MA | IGBM | 795.55 | 32.43 (3.92%) | Components, Chart, More |
| MICEXINDEXCF.ME | MICEX Index | 1,416.74 | 90.51 (6.00%) | Chart, More |
| GD.AT | Athex Composite Share Price Index | 833.35 | 22.64 (2.64%) | Chart, More |
No comments:
Post a Comment