It looks like the efforts being made are intended to keep the same old game going. And, regardless of a new administration – many of the principles underlying these regulations will be disregarded or dissolved, not utilized.
There have been many hands and many minds involved in creating the disaster we face with primary participants among Democrats, as well as Republicans. I would suggest that it is perhaps too much to ask for intelligence of human beings who were elected based on popularity rather than an educated understanding of macro-economics and other serious issues where their decisions affect us all.
We send them to Washington and hand them some files to read – give them some staff and ask for decisions. It is little wonder that those voices of lobbyists meeting them in the halls explaining the facts with their own biases have a greater voice than ours or of common sense in general.
The known factors that highlight a diminishing economic strength were either ignored because of political choice or were intentionally slanted to appear better than factual reality by applying the mindset of “propaganda for the public good” – maybe by the superstitious belief that to say it is in danger, creates that danger.
The truth is, our businesses no longer rest on the foundation of supply and demand, our financiers have no accountability and no useful concept of prudence or need to apply good business practices, and our ability to export to world markets in order to make up the shortfall of consumer bankruptcies here is fettered at best and depleted in opportunities.
The Arab nations simply decided this week to group into their own economic “banking” system and although I’m not sure that they will withdraw from the Central Banking and Reserve system, their obvious concern shown by their actions suggests that they have seen the greater truth of the situation.
A fiat monetary system is certainly part of the system’s structural deficiency, but not all of the problem. Needless to say, no matter how the words are tendered to make it appear – the printing of more money than is equitable and fiscally sound is occurring or about to occur among the Central Banking system partners, including the US.
Extraordinary really, if you think about it. Who among us gets to go out back and print money to fix a gambling problem or to create an overt cover for our bad choices? And, for the same reasons that it isn’t a government’s preference for us to print money as we need it – because it undermines the value of existing currencies, goods and services, and creates chaos in the marketplace, among other things – as they will find, it does the same thing when they do it.
But, for the record – the same old game that has been in play for thirty years more or less that our government and business leaders are trying to keep – isn’t sustainable and no matter how much money is thrown at it – that game was no more than an elaborate con to gamble with huge sums of money that didn’t belong to those using it. Businesses have been borrowing to pay for the basic elements of doing business while using the money and assets coming in the door for expanding values that didn’t exist. Their assets aren’t simply leveraged – they have been converted to worthless and unpredictable instruments, some of which are currently being called “toxic assets.”
Each day, the more that is known, the less chance that game has of continuing in any measure and that is where we are now. It will get different. A new administration in the US with Obama as our president will not have the great change that he hopes for us and that we all hope from him unless we respect that he is a fellow citizen that was willing to take the job and all get in this thing to help make these great things happen.
I am willing to do that and I know you are too. We all can. Each of us is uniquely suited to participate and it will take everything we’ve got from each of us and among all of us in order to make this work – from a disaster to a world alive with opportunities and stability, abundance and prosperity for all.