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Friday, October 10, 2008 

Economic Slippery Sloap we decend

The world is panicking over what history will call a major realignment of the markets. As the markets self correct do to years of over rated and over valued commodities and properties.

As we have seen today in England today, along with a call for the G - 7 to meet and reword laws for the world economy. Socialist around the world are celebrating at the panic happening. Italian Prime Minister Silvio Berlusconi has called for an over haul of the markets and how they operate.


The Group of Seven finance ministers and central bankers are met in Washington today, and will stay in town for the International Monetary Fund and World Bank meetings through the weekend. European Union leaders may gather in Paris on Oct. 12, three days before a scheduled summit in Brussels, Berlusconi said today, while Group of Eight leaders may hold a meeting on the crisis ``in coming days,'' he said.

Berlusconi didn't give any details about what kind of rules leaders were looking to change, except to say that leaders are ``talking about a new Bretton Woods.''

The Bretton Woods Agreements were adopted to rebuild the international economic system after World War II in a hotel in Bretton Woods, New Hampshire. The aim of the agreements was to establish a monetary management system, initially by pegging currencies to gold. The IMF was set up later to help manage the international financial system.

However remember that the American monetary system is a FIAT. Meaning it is not based on any soluble mineral, but on the word of the government.

This economic mess is in a way a blessing to countries like Cuba. Cuba is limiting how much basic fruits and vegetables people can buy at farmers' markets, irritating some customers but ensuring there's enough—barely—to go around. We know though that Cuba is recovering from hurricane IKE and has always rationed food. this is an excuse to draw international attention to the boycott still in effect from the United States.

Last month Hugo Chavez called for the rewriting of the American Constitution. Saying that Capitalism is a lost cause. So what has Hugo the socialist dictator done? He has already done what our government and the rest of the world is proposing. Nationalising the banking system. This is the second step we have taken down the slippery slope. The first is the government becoming the mortgage broker for the home industry.

What will be the next step? Well look to the nationalising of health care. The higher tax rate and redistribution of wealth. (which party does this sound like and which candidate?) This is what we the American have to beware of. Do we want to go down and become a socialist nation. Or shall we fight to keep what our forefathers fought and died for? I prefer what our forefathers died for.

Though the Bretton Woods idea is a better one. How long will it take for us to end a mineral based monetary system again? Remember it was Franklin D. Roosevelt who took us off the gold backed system. Calling it illegal for Americans to own gold. Then Jimmy Carter finally put the death nail into the gold system.

Speaking of Jimmy Carter. Before history is totally rewritten. Has to be the worst President in American history. It was Jimmy Carter who initially started this Fannie Mae, Freddie Mac problem. Now these are the policies that Barack Obama is looking at returning this country back to. All failed socialist plans that hurt not helped this nation at a time when we were facing similar economic problems.

I have argued this point time and time again. That this country has moved so far to the left that we do not any longer recognise what a true conservative is, what ultra right is, or what a moderate is. When the mainstream media declares President Bush as a right wing radical, Hillary Clinton as a moderate, and is pushing the socialist agenda of a Marxist like Obama as main stream my point is made for me.

We have to be very careful in this election and look closely as to who we vote for. Otherwise this slippery slope we are on will be a cliff we cannot climb.

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  • I'm Devious Mind
  • From Denver, Colorado, United States
  • Good judgemnt comes from experiance. Experiance comes from bad judgement. Karma, its a bitch.
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