The Death of the World Economy
By Dene McGriff
The world as we know it is changing in ways that few of us can comprehend. We have never really been down this road before so it is uncharted territory. Never in history have we seen debt (personal, public and business) soar to such astronomical levels. Never in history has so much money been printed. Never in history have there been such imbalances!
If we just used the common sense we were born with, we would probably see the wreck at the end of the road. Pilgrims, we are on a highway that allows us to go faster than we have ever gone before and our speedy, shiny new cars can go barreling ahead at a couple of hundred miles an hour! Oh how exhilarating! But watch out for the turn ahead!!!!
This trip started slowly. It has taken us 60 years to build up speed, to get the road just right, the vehicle just right, to get the proper conditions. The government keeps telling us that everything is going to be okay. We are on the road to recovery, the road to greater productivity and higher employment. Everything is going to be fine. We just need to give it a little more gas, a little more spending, a little more debt. The economic engine is strong and sound. We just need to stimulate it.
The crazy thing is that practically every nation on the earth has been doing the same thing. The people demand more. They vote for more. They want greater benefits, earlier retirement, more vacation, less work. Meanwhile, the population ages and people line up to cash in on their retirement and benefits, not to mention the health care for the bodies they didn’t take the best of care. The less fortunate of society have become used to the “safety net” – 99 weeks of unemployment, welfare, health care, food stamps and subsidies and loans for everything from housing to education. We have become an entitled nation. The country and the greedy jerks we made rich with our labor and purchases must now pay us our fair share!