"They are here for their own twisted entertainment. Dont forget that."
Geez well I wish that were true.... the last 12-18 months have been a bloody nightmare of sleepless nights and concerns over job security.... I must have missed the fun bit. As did all those friends and colleagues of mine who have already lost their jobs... how is that entertaining with a couple of kids and a mortgage??.
People continue to spend beyond their means is not the answer. That got us into this mess. We are heading for a recession that is long overdue... should have happened in 2001/02 but the Greenspan Put just poured more petrol on the debt bonfire.
This is not just about consumer confidence. It is about the global banking markets being screwed.... granted only bank analysts etc properly understand that (+ a few others) because it is bloody hard to get your head around unless you work in the industry.
To give you an example.... trade finance... keeps all those cargos in all those ships travelling around the world. The cost of it has gone through the roof. This means cargos left on docksides and the Baltic Freight Indices going through the floor. Bottom line without trade finance and letters of credit global trade does not function... that is already happening.
To think that a stiff upper lip and continuing to spend will solve this issues is naive in the extreme. A healthy FEAR of debt and a FEAR of living beyond your means would have helped stop us getting into this mess in the first place.
I say again DESPITE ALL THAT HAS BEEN SAID THE MAJORITY OF FOLKS STILL DON'T GET IT.... THIS IS THE "BIG ONE".... IT IS GOING TO HURT... LOTS
