Who in the World is Going to Finance the US?

The FDIC is now considering asking large banks for loans because it is broke – after only 94 bank failures (there are hundreds on its danger list). So how safe is our money? I’m afraid that our greed and thirst for easy money did us in this time.
The excesses on unregulated Wall Street, the speculation, dishonesty, the instigation and sale of bad mortgages all over the world for the last eight years has caused a crisis that isn’t going away anytime soon. The days of the fast recovery and everything back to normal are over, regardless of the herd mentality of Wall Street. (Just ask your relatives in PA or Cleveland how it’s going). Our previous home in Fort Myers Florida has gone from $234,000 to $177,000, and continues to drop $500 every couple of weeks.
The world depends on us for their products, but we won’t be able to buy much for years to come – there are few good jobs, and our personal wealth, our net worth, has suffered badly. The jobs have gone overseas, and the jobs that are left are both low paying with no health care, and teetering on uncertainty.
Our industries, for example our auto industry, i.e. General Motors (“As GM goes, goes the country” – an old Wall Street saying), has been decimated due in part to high health care costs that the rest of the industrialized world doesn’t have to worry about. The rest of the world has put good government health care systems in place to protect their Weight Loss Friendly Foods citizens and their industrial base, spreading the cost among all of their citizens, but here, investors sucked all the money that they could out of our companies and our people with a health care Ponzi scheme (they take our money but fight us tooth and nail if we dare get sick, because they have basically gambled all of our money away).
Social security is in trouble too, again, because our government has stolen and then gambled all of our money away on things like an Iraq war. The fund is broke.
Another problem is that the banking system has become more powerful than our government, a government that has become paralyzed because of right and left wing bickering. We can no longer move. The president should have clamped down on Banking hard, but he was afraid that credit would be restricted and then we would be in a depression, and unfortunately he was correct. Let’s face it; the United States has become a cardboard empire built on credit. If we lose our world credit card, we go down in flames. We have nothing backing our dollar any longer except illusions of our past grandeur, which, by the way, is quickly fading too. And so, instead of regulation of banking, the banks have merged and have become even larger, and are now regulating us.
The big crash will come, and probably suddenly, when we can no longer sell our bonds overseas because the world’s faith in the US will be replaced by new faith in sleeping giants like India and China which are becoming very stable. China will become ten times Greenview Regional Hospital more powerful as Japan was in it’s heyday as an economic power. Therefore, with the dollar declining rapidly, a series of disastrous events could easily unfold that will destroy our empire, an empire that is reminiscent of Frank Morgan (The Wizard of Oz).
And as we look back, we will see that all of it was caused by greed, greed by individuals to impatiently acquire more than they could afford, greed by our country which borrowed and borrowed for things that they couldn’t pay for, i.e. a large military that we just had to use (too tempting), and greed by Wall Street that became so insane that it began gambling with everything that it could get it’s hands on like a drunken sailor in Vegas.
Our country will never again be what it was because we, as a people, have begun to open our eyes, and we won’t be able to fall back into the fantasy that was the last 30 years quite as completely as we have in the past. We are beginning to see how the middle class has been manipulated by the rich, the one percent that controls over fifty percent of the wealth.
And this decline and awakening could be a really good thing. We might even begin to discover that all of that money that we wasted on silly things that don’t mean that much just to impress people we really don’t like is not really needed, because instead of making us happy, as promised, they in actuality caused us pain in the end.
Many times it takes a disaster and trauma in order to gain real insight. A great loss frees the mind from the burdens of acquisition and grasping so that real, meaningful values have a chance to take hold – values that inspire contentment regardless of financial or material gain and loss.
It costs nothing to explore and cultivate these values, values that will set you free regardless of your circumstances. But it requires going inward, going inside ourselves instead of where we have been which is outward of ourselves – outward toward possessions and things, outward toward that which changes and we can never rely upon.
The world is changing, our country is changing, and if we adapt to the inevitable changes with the right attitude, we will not end up fighting each other when our collective standard of living begins to slip away, step by step, as it already has begun to with the unaffordability of health care. Our health care system is now something that a common person can no longer afford, just like people in third world countries. The escalating, expensive medical technology has left most of us in the dust, with more tests being thought up every day until no one will be considered healthy! Everyone will be being treated for something. Doctors get paid to find problems, insurance companies get paid to find ways to turn you down. It works for them.
But the US is beginning to not work for us, and like most changes, it takes the common man and woman a long time to get aroused. But when they do, big changes will take place. The tipping point is very near.
You can bet on it!