Saturday, October 15, 2011

The dilemma of Wall Street

It's hard not to take a stance when the world is in a pickle. Most of the US public was of the opinion that when the banking system was failing, that it should have been allowed to collapse. Instead, the feds decided to bail them out. And now look at what's happened. We're living in a world of dominoes lined up on a shaky folding card table.

Sooner or later, the financial system IS going to collapse upon itself. And not just in the United States. Most of western society is going to hell in a hand basket. Greed is the problem, NOT capitalism. Once the gold standard was eliminated, it was so easy to say "We're broke? Just print more money!" Communism, socialism and any other "ism" isn't a viable choice, either. Because they're run by people. And people get greedy.

I don't have a clue what will replace the financial system we have now. Will we be using euros? Or renminbi/yuan? I don't know. But I do know one thing. It's not going to be a pretty transition. So keep track of your resources. Bartering has never gone out of style.