posted on Mar, 15 2009 @ 07:57 PM
The economic crisis is very true, and real. So real in fact, millions of jobs are being lost (including mine), and real GDP is evaporating. Not just
in your country, but globally.
Though I agree with the principal of your argument, I do not agree the crisis is "false". Your country, government and population have overspent for
decades. Now that the chickens have come home to roost, suddenly it's a "global issue". The only other country that has a debt ratio on par with
yours, is the UK.
This is the very root and foundation of the problem at hand. I'd be willing to bet, many whom are spewing "Government overspending!!" amidst this
crisis are also tens of thousands of dollars, possibly more in debt. I have no remorse for those who knowingly took out loans they KNEW they could not
repay. If you did not read the terms of your loan, that's YOUR responsibility. You wanted to keep up with the Johnsons, you got your wish, now pay
Additionally, because I'm sure someone will mention it. I'm not talking about defaulting on your mortgage because you just lost your job. (If you
could originally afford it of course) I'm talking about the thousands and thousands of dollars in miscellaneous credit card debt, et al.
This is how the bubble was created. Bad debtors are just as much at fault as the banks who provided the loan. If you don't agree, and your in debt,
your lying to yourself and your country.
The Solution? You immediately lose your status as reserve currency. We establish a new Bretton Woods (because the derivatives market has completely
skewed the value of ALL currencies). Your country does a complete 360, and starts spending on projects that will PRODUCE real goods. Not
infrastructure projects which are very short-sighted and produce absolutely zero "real" value, hence it will not assist you in paying off your
Competing with China for cheap labor, isn't only impossible, it will be downright necessary, because you owe them.
Other option? WWIII.
That's the endgame. Since I'm a realist, and can't really fathom the United States becoming a harbinger of cheap labor, i'll go with the latter
History always repeats, it's human nature.