I believe that the US capitalist system that has worked for over a hundred years is dead and gone in any practical sense, and that the morons who run it and control it will continue to try to save it, even though there is no point in saving what is unsustainable in the long term anyway. They are too stupid and self-serving to figure that out.
Having said that the George Bush plan to save things is good, it might actually be better in the long term for the US economy to melt down so bad that it ruins the global order of things.
Such an event will surely remove the power from those who manage things by covering up their own failure by throwing money at the problems. Actually, that was an interesting thought - maybe George is doing that!
The main difference between the first world economic system, and that of a 'banana republic' is that the corruption in the banana republic is at a lower level, and is more transparent, and also more obvious as it involves cash money changing hands.
So, the advantage of the meltdown, if it occurs totally, is that it will get rid of those who are the cause of the woes. The stock market thieves. Those who suck the financial life blood from corporations in order to achieve personal gain. Those who create no added value to corporations. Those who award themselves millions of dollars in bonuses to reward their short-term performance in ransacking the assets of a company in order to create share dividends.
It will possibly reduce the financing to organisations such as the CIA, who seem to interfere in the natural politics of every country, so presumably it will reduce that same interference. There is a risk, however, that other powers will replace the US, and behave in the same manner, yet with less responsibility, such as Russia maybe.
All in all, it might be good to lower the power at the Wall Street level, but might be a higher risk situation for the world in general if the meltdown goes higher up than that.
Or, the situation could be fixed by making it mandatory for any shareholder over a certain amount to have their shares locked in for ten years. Then these fly-by-night executives will be deterred from behaving in a manner that is detrimental in the long term.
0 Comment(s).