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|Topic: The short live empire?|
Joined: 09 November 2008
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| Topic: The short live empire?
Posted: 21 November 2008 at 3:13pm
Seeing the international economic turmoil unfolding day by day is a shocking experience for most people. The collapse of the old Soviet union did not give much notice for many to digest as what was going on. The break up of the Balkan was maybe easier to predict. It won't be surprising if this thing happen again, we get used to it.
As Gorbachev can verify, the Perestroika was his last ditch but failed effort.
The Lehman brothers went down with $660 billion, and so many banks before it (if you care to see and read it) and few after it. The 3 auto makers alone are capable to create 2 millions and plus unemployed. The Citi bank is talking to sell it in pieces at the moment to survive - if they still around for it that is. And the list is going and going.
In the same time the military is consuming something like $300 billion a year, to achieve the satisfaction in killing and bullying. For each bomb they drop it is also the lost of points in wall street. Each point in wall st is worth around $1.2 billion.
But it all started way back from before the Reagan era when the debt accumulation started. Anyway I first read this last year. This news clip that has shown the chronic sign was so bad already over than a year ago:
The United States received the first crucial evidence that the tumbling housing market and a vicious credit crunch may be pushing it toward recession after figures showed it shed 4,000 jobs in August -- its first outright decline in four years.
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