Wednesday, December 14, 2011
My thoughts on the economic meltdown in Europe:
It's very obvious that historically, as well as contemporarily, that if/whenever you have a globalized economy based upon the pathological acquisition of wealth, at the expense of having others perpetually financially destitute as well as having a populace of work-horses, like the middle/working-class, for example, who are used to be the engine of that economy, then that economy is bound to fail & collapse.
Now, referring to the financial meltdown in Europe, with the recent failing of the Euro, one needs to critically look back, historically as well as contemporarily, how does a financial-system fail. One of the easiest ways for a financial-system to fail is the unnecessary imposition of an interest-based economy, which wraps people up in unnecessary perpetual debt, this affects both individuals & nations alike-The accumulation of debt will rot any economy, just as dampness will rot wood.
Not that the American economy is doing any better, I mean honestly, the same reason that the Euro has been broken is the same reason that the U.S. economy has been plagued by the threat of collapse. And, the interest-based economy is in fact the main culprit. This is simply because you can only bleed people dry but for so long. Like for example, the whole Real-Estate collapse in the U.S. basically started as a direct result of American homeowners not being able to keep up with mortgage-payments that had tons of interests-rates attached to them.
Millions of Americans were thus forced to foreclose on their own homes because they just couldn’t afford the unjust interest rates imposed upon them from the Banking industry. But, of course, it was the financial institutions are the ones who received the Federal-bailouts, instead of the more deserving U.S. citizens, who were being jerked around & were economically left for dead. Now, let’s head back to Europe.
There are three main reason why in fact the Euro has not lived up to the projected expectations of the European Union:
1. Lack of economic growth, as a result of a weak job-market, as a result of lack of domestic industrial production.
2. The lack of governmental-confidence in European democracy, as a result of notorious political corruption from conservatives & leftists.
3. The European Union being dominated by a handful of powerful European nations, while marginalizing European countries with weaker governments and/or weaker economies, prior to even joining the European Union.
All of these factors, combined, have made the possibility of a utopian European political & economical network unravel right in front of their eyes. The irony is that the warning-signs were crystal-clear, yet no one wanted to take heed to the painfully obvious damage that was being caused by the lack of regulation of the crumbling value of the Euro. Can Democracy & the Euro survive? Well, we’ll just have to see whether the European Union is gonna actually work to strengthen their united governmental ideology & currency, or just pretend like nothing is wrong, and just put their heads in the sand.
#I’m just sayin’!!!