The World Economy

Headline in today's paper:

Iceland President Asks Alliance to Form New Government:

The article reads in part:

Iceland President Olafur Ragnar Grimsson, whose government is in the middle of a crisis, says he has asked the country's center-left Social Democratic Alliance Party to form a new government.

The announcement came one day after the island nation's ruling coalition broke apart, making it the first government to fall as a result of the world financial crisis. It may not be the last.

Thoughts anyone?

Ron!  You don't really want Great Britain to fall to financial crisis, do you?

Well, it's pure chaos over here also...yesterday they announced another 78,000 job lay of by companies this year...in the meantime, I'm seeing people starting to find ways to make their own goods needed daily,(such as laundry soap)  if not to cut costs...to possibly use them to earn extra money to live on. In summer of last year an can of chili was 48 cents, it is now 96 cents, veggies were 48 cents an can, they are now .87 to $1.05 an can...we all had our electric bills raised by 6 per cent, though all wages have been frozen primarily for the average employee for better then an year  Most the wild weather patterns and the disasters see people with little recovery help...insurance companies are refusing to make good on their policies.People are getting back to helping other people survive these days at "street" level...forget the government in helping you or anyone else but the locals...friends, perhaps....mainly yourself.    

Politicians and corporate greed has put the world economy where it is and all the money the gov is pumping into it might as well be flushed down the toilet.

Economics 101: Leave it alone, suffer your consequences, and the market will recover at the correct level and grow stronger from their.

Our world has lived on the edge for many years. Obtaining credit is as easy as apple tart. Never before in the history of world economy has the general public been so deep in debt. Never before in the history of world economy have so many financial institutions made bad loans out of pure greed.

Now, the public will pay for it. The wealthy won't be affected by it, the layabout has never and will never pay for it. It will be the working poor and middle classes who will be saddled with this horrendous bill.

Sadly, the world financial institutions will continue as though nothing happened. They have no fear, as the world government will not allow them to fail. Nor will any of those responsible face prosecution.

As long as there are no consequences for failing, history WILL repeat itself.

What was they told me in my Suerpvisor's class at the college, that money of itself has no value, it's what we "make it" in it's value. It's going to be sad to see the middle income class die off, it will create an revolution you know, as it's the middle income class that helps the poor by raising them up and caters to the wealthy by their service. The perfect economy is very few truly wealthy and very few poor and many in two clases of the middle income group. While the very poor might make nice servants, they don't have the innovative ideas to leap beyond what was there in the past, because they live such spartan lives, ...and the wealthy is use to buying/supporting/expanding others ideas.., not "making" in the way of labor/goods to sell for the open market of their own.  I think we are ready for this because it's going to push us into outter space technology and I think it's something we have to go for...our planet is getting to small for us, and our needs. I think even people as far back as JFK knew this aspect and that it was coming up...I think he called his reign the"New Frontier" back then. They have at NASA been tied down to exploration andGov. budgets,  but once it becomes an "public" free enterprise, I think it will change, and it's getting there all the time in Russia and China. Anyone, if you got the money, can be in outterspace with the Russian's manned space rockets these days. I just don't think we can ignore this any longer economically.      

Gordon says he's "absolutely confident"....

http://business.timesonline.co.uk/tol/business/economics/article5608284.ece 

I don't see how it could be any worse there then it will be here, where so much of our money is out-sourced to other countries besides our own internal problems.  Have you people ever thought of jumping on the "green" techology idea as they say.....and off your northern coasts, start your own fish growing  farms? Our salmon and many of our off shore fishing grounds are seeing less and less fish produced, and coming back in all the time, I don't know if this is really the truth... or the one they used to price hike again...bu tit might be worth looking into internationally also.