Real Wealth Society

Tuesday, September 12, 2006

Gloom And Doom All Over By SB Kayser

My goal at this stage is to track and share the inconsistencies in what the media is trying to hide and point as much as possible to columnists that are worth reading. People who know me well also know that I do subscribe to a certain type of "Gloom and Doom Reports" since 9-11. Not that I was born a pessimist, far to the contrary I'm quite optimistic that societies will find the light at the end of the tunnel after the world unprecendented debacle, which is necessary to terminate fallacies that are inherently responsible for our disruptions. As a matter of fact with the financial system we have real good news are pretty seldom because predictions and estimates always turn out being wrong eventually. You may doubt my words, this is your absolute right but then what to think of the CNBC type of crowd who still see nothing amiss with $ 80 trillion debt load?

There is no freedom possible if we do not learn economics 101 by ourselves because the-powers-that-be will never give away their secrets. Never... ever.

To start with, I' recommend:
The Money Myth Exploded, a tale that anyone having achieved high school is able to comprehend: economics is not as complex as we're told, at least not the basics. This is a topic one can learn completely alone. But once this is assimilated, it becomes very difficult to teach an old dog new tricks.

Surfing the Net and looking for signs of a Day Of Reckoning approaching, I came across one Danielle DiMartino's article whose headline just added to my worries: All the world feels weight of U.S. debt. I always read what she has to say by the way. She goes further citing our most-favored-economic-nation status, our wonderful dollar which the current title to the world's reserve currency and that we buy more exports than any other country.

DiMartiono 's observations are right, like her I agree: "world currency reserve" is a big word and completely meaningless. I have another reason to think this way though. The USD is today
worth a mere 5 cents or so, it lost 95% since 1913. Doesn't everything look suddenly relative?

So what do the words "most-favored-economic status" entail exactly based on the statement above? The strength of the country is like beauty in the eyes of the beholder.

In the meantime, I'd like to mention that
China replaces the United States as world's largest exporter. This is very bad news and it only adds another layer of financial upheaval. The problem you see is when one starts playing with "easy money", the only way to the exit is the B-U-S-T. Mathematics only copes with logic and reason. This is not "greed" anymore but "stupidity.

As for being "the biggest export buyer", at what price? If you have not watched "In Debt We Trust", do it a.s.a.p and you will see what I mean. Anyone who cares about one's own survival ought to see this extremely insightfull documentary.

As the chickens are coming back home to roost, the
ownership and control of the Country descends into oblivion one step at a time: we can only look at the trade deficit that hit $68B record 2 months ago like mummies. How nice to be the "biggest export buyer" in the world while digging our own grave... completely oblvious to the greastest Greek drama ever in the making.

We are all are interdependent now, the money in our wallet is just worth a promise to pay called IOU... and as long as the debt is not paid, IOU assets are like a figment of our imagination. Considering the levels of debt throughout the world, everything we have is merely rented, leased, borrowed for a period of time.

Welcome to the world of voddoo economics!


  • What has happened to Danielle Dimartino now that she got too honest for Dallas Morning News

    By Anonymous Gil Travis, At 7:00 AM  

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