We have all been shaken up by the recent dramatic developments with the collapse of the financial system on Friday. This crisis has hurt many people and there is no sign yet of it recovering. This crisis was largely brought on by greed and living off credit, which isn't healthy. It comes then as no surprise that the world's financial markets have collapsed with politicians and financial regulators trying desperately to unravel the mess. They have tried to introduce stopgap measures in the interim to restore some confidence but the public is extremely nervous and does not seem to have much confidence in politicians or financial regulation.
This crisis , as I said , has touched everybody and we should learn from our mistakes and live within our means. Most commentators seem to agree that it will take a long period before the system returns to "normal'. But as I have pointed out, people are searching for answers as to what has caused this financial meltdown and readily blame Wall Street, financiers, politicians or banks instead of realising that the crisis came out of out of their own greed and desire for easy wealth.
I also believe that the obscene amount of expenditure outlayed on the Iraqi war and in Afghanistan has significantly added to the ever-mounting debt accrued particularly by the US.
The US presidential election is scheduled for November 4th and I would expect that voters there will want to send a clear message to politicians that they are very angry. They want change and the incumbents naturally have resorted to smears and underhand methods against their opponents.
I , along with everybody else, am closely watching what will happen next.
Robin L. Harwood
1 comment:
to quote: he crisis came out of out of their own greed and desire for easy wealth. end quote.
Well said Robin.. couldn't agree more, it's a two way street that they all created themselves.
Andre'
Post a Comment