Wednesday, May 23, 2012
The Western world is currently living beyond its means. The welfare and entitlement mentality that has become the hallmark of recent Western style Socialist Democratic government will soon implode. There is already evidence of this in the economic catastrophe that is Greece. Ireland, Spain and Portugal will soon replicate and then follow the Greek tragedy that is currently being played out in Greece where its people are ill prepared for what lies ahead. Europe will then follow. It's 1929 all over again as those nations which will fail first rush to shore up their dwindling economies by introducing severe economic measures which penalize those who have had no say in what has come about while refusing to enact severe austerity programs and measures to contain those who have helped bring us to this place; the Banking houses and their wastrel CEOs who have governed their lending and invested your money while lining their own pockets with salaries so huge they can only be described as obscene, knowing full well the inevitable economic outcome of their self-serving ways.
The Ten Commandments tell us not to Covet Thy Neighbors House and the Bible informs us that Greed is one of the Seven Deadly Sins. Yet, during the 1980's the catch cry in the financial and business circles was that, Greed was Good! The deliberate inversion of two of our basic civilizational cornerstones by those who could see money to be made from such a moral travesty should have sounded warnings from within our own financial sectors. Those who did rise up were drowned out in a cacophony of Bankers and Entrepreneurs who could sniff out the instant wealth to be made from their fellow man who were completely ignorant of economic matters concerning the giant Ponzi scheme then being hatched. Since abandoning the Gold Standard, finance houses have been lending money as if there was no end to its supply. By abandoning the Gold Standard we also abandoned any pretence in balancing our money supply, that is, we no longer held in reserve the capital via Gold Bullion with which to guarantee the money that was lent for housing, business and any other venture which could generate income for the Big Banks. As a result of no longer abiding by the Gold Standard we now find our government's borrowing huge sums of money from the World Bank with which to finance their welfare and other slave inducing programs which has taken our national debt levels to dangerously high amounts, amounts that may not be able to be repaid! While we must have the Big Banks in order to function as an economy, the accountability of the Big Banks has not been as it should have been and the Big Banks have taken advantage in every area of finance to capitalize on this lack of accountability. Bank profits are now at record highs and although this author has no problem with Banks making money on what they lend out, the Banks have been less than honorable in how they have lent that money and provide incentives to ordinary folk who would wish to save their hard earned money for a rainy day.
We are now witnessing the result of that lack of accountability in lending and business practices with Greek Banks now running out of money because those Banks failed to keep lending money to within their own means. The Greeks who have money in Greek Banks now realize that their money will soon disappear from their accounts if they don't act and remove it first.
It is only a matter of time before we see this happening here and in every other Western style nation that has embraced the lunatic policies associated with Socialist Democracy.
Be warned! Australia which was once a land of opportunity to those who chose to work hard and were prepared to take risks with business ventures, has now become a stagnant place where government now dictates the order of the day and has so much red tape in place that it now deters those risk takers and hard workers from even thinking about creating the wealth that this nation was once so proud to proclaim and which offered work to all those who wanted it.
It is now just a matter of time before the whole House of Cards that has become Western Democracy collapses in on itself. We are now seeing this in Greece with other nations to soon follow which will then engulf the European Union, including Britain. America is teetering on the abyss and only needs another 'stimulus package' or 'Quantitative Easing' part three, to push it over where it will never recover economically from. The next few years promise to be a wild ride, are you prepared?