Here is the finale of our look at Money and the Financial Crisis. So I thought we would take a musical look at some of those who TAKE our money, and give little, if anything, in return. That includes Unions, Gold diggers (not being sexist, they can be of either gender), and the biggest offender of all…the Government. What do they care? It’s Only Money. And it is not THEIRS! In between, it is ironic as we have been playing music, that the music industry itself has one of the most shameful histories for cheating artists out of their money. To close, I have two separate and completely different endings. One a bad one, and since I couldn’t leave you like that, another a good one. I also leave with these thoughts. We currently owe over 14 TRILLION dollars, and according to a Treasury Department report to Congress that will be 19 TRILLION in less than 4 short years, 2015. Can that amount ever really be paid? Things don’t look too good for the world either, according to a report today by the IMF below.
IMF: Risks to Global Economy Have ‘Risen Significantly’ Thursday, June 10, 2010 By: Frank McGuire The RISKS to a robust global recovery have “risen significantly” as many governments struggle with debt, a top International Monetary Fund official has warned. “After nearly two years of global economic and financial upheaval, shock waves are still being felt, as we have seen with recent developments in Europe and the resulting financial market volatility,” Naoyuki Shinohara, the IMF’s deputy managing director, said in Singapore on Wednesday. “The global outlook remains unusually uncertain and downside risks have risen significantly,” Shinohara said, according to Britain’s Daily Telegraph. Countries across Europe are being pressured to slash their deficits, which were deepened by the financial crisis and the governments’ response to it. Some economists fear that moves by countries ranging from Britain to Spain to rein in public spending at the same time will set back a global recovery, the Telegraph reported. Europe’s debt crisis could disrupt global trade, hurting demand for Asian exports and sending “hot money” into the region if policymakers fail to act swiftly and appropriately, Shinohara said, according to Reuters.
I have only tried to warn you, so don’t kill the messenger. There are good people out there working to fix things using the free market system- leave them alone, keep the goddam government out of it, and they will surely succeed. Good luck to us all!