Sunday, February 7, 2010

Chaotic Times

US real unemployment at 17 - 19%, US debt at staggering levels and we have a Europe that might see some countries default on their debt. This are indeed interesting times. More interesting are those running to the US dollar as a safe haven, whilst others are considering downgrading US bonds. Smart people already know the US currency is not the safe haven it once was, not after Bush and Obama gave first to their masters.

Masters, too hard, not really think about it. The leading economy in the world is in trouble, real trouble, business needs liquidity, they pour money to the banks not directly to business. The banks don't lend money because balance sheets of small to medium sized business are not great, then Obama says why are they not lending money to business. Well he never should have gave those banks tthat money, it should have gone to business that needed it, like general motors like the smaller businesses to get people employed.

Today because Obama refused to change the politics of the leading economy 1 in 8 Americans rely on food banks, 1 in 5 children rely on food banks, all because money went to banks not to business. Well there is the end result of being answerable to Goldman Sachs instead of the electorate, Obama is no different than Bush.

Bhekuzulu Khumalo

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Bhekuzulu Khumalo

I write about knowledge economics, information, liberty, and freedom