Financial Hypocrisy Looms Large

Of the thousands of articles about economic news, near global hysteria rears its head as the world discovers the domino effect of the “subprime” loan industry and the fact that the Chinese economy cannot support the world economy. The loan policies and the fractional reserve of the Federal Reserve Banks is the cause of the magnification of the debt as banks are forced to realize the bad debt they hold and post the loss on their ledgers. The repercussions are huge as banks scramble to post the lost reserves as their asset value plummets and liquidity fades. The world financial downturn of ten years ago brought about the discussion of reform among the economists and financial brains of the world. The call of money and profits quickly faded that resolve as the world entered into the new millennium.

The World Economic Forum, an international Swiss not-for-profit think tank has issued a report that puts a recession in the United States as more important than terrorist activities. The report states that a sharp downturn in the global economy is the most likely and the most serious threat to the world in 2008. Do you see how important the United States still is? Whenever a downturn threatens in this economy, the world still shivers and mourns the loss. The reforms that were discussed a decade ago were not only ignored, but new ground was broken within the finance and banking industry to enhance profits without looking at the end result, as if a market correction was impossible. The great threat that looms in the face of banking officials worldwide was created by financial hypocrisy.

All of a sudden, the great minds of the business and financial world see the millstone of their recklessness as a greater threat than terrorism. As the Federal Reserve picks up the losses of economies, those losses are tacked onto the debt load of the respective countries caught in the quagmire further enforcing the slavery of the banking system. As one of the small people in this world, you can recall one important truth. In “good times and bad times” there is always be a body of people that prospers because of wise decisions and being in the right place. Don’t let negativity of the economists and bankers get you down. Through your own ingenuity and commitment, you can still prosper or find ways to prosper despite what the “experts” think right now.

Elvis Manning
TNTalk!