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Teetering on the brink of the new Depression
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handofdave
handofdave
3515 posts

Teetering on the brink of the new Depression
Sep 18, 2008, 12:56
Perhaps I oughtn't to be flip here, but does anyone else feel like the chickens are coming home to roost?

I mean, I don't wish for a financial meltdown on the world markets, as it will be the poor and middle class that will take the hardest hit, but I'm not very sympathetic to the high rollers who're losing their shirts. As a matter of fact, I take admitted shadenfreude in the knowledge that the most arrogant of the 'investor class' are sweating bullets.

Ironic to see these people scared shitless about their money. Most of the world goes to bed at night worried about their LACK of money.

I have a feeling none of the drastic measures are going to forestall a huge 'correction'.

Thru all of this, the infuriating thing for me is that my nation's leaders have been putting off the sort of infrastructure changes that could have avoided this meltdown since Ronald Reagan. They've pandered to the fantasy that Americans can gorge themselves on luxury forever without consequence. Even Clinton did nothing.

And now it looks like all the money's run out and there's nothing left to put towards the migration to solar and wind, etc. It's all been blown on Hummers and all-you-can-eat meals and wars of choice.

Dire times ahead. I don't have much confidence that all these triage efforts are going to prevent the implosion of the world financial system, and by extension, great discomfort and suffering for the world.

Well, there was lots of warnings that went unheeded, dating back decades. It seems every other generation has to learn the hard way.
Replies:
Re: Teetering on the brink of the new Depression (IanB)
Re: Teetering on the brink of the new Depression (Wychburygirl2)
Re: Teetering on the brink of the new Depression (stray)
There's still a bombshell to go off (nigelswift)
Re: Teetering on the brink of the new Depression (magiceye)
For those considering voting tory (grufty jim)
Re: Teetering on the brink of the new Depression (Rockabilly)
Re: Teetering on the brink of the new Depression (Vybik Jon)
Re: Teetering on the brink of the new Depression (Moon Cat)
Banking Bon Mots From Monbiot (IanB)
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