Sep 24, 2008

Economic Ignorance... No Longer Bliss

I still can't get over the fact that when capitalism fails, it must be recused with socialism. As my friend put it, it's "socialism for the rich, capitalism for the poor."

A long time ago I asked my dad if "The Great Depression" could happen again. He said no, that the government had a system in place now that would make it impossible. Well, now it seems that "system" is more like bailing out the banks when they've taken too much risk and screwed themselves over.

Listening to the news these days is scary. All the "financial crisis" this and "Next Great Depression" that. I don't know how much of it to believe, but I admit, I'm scared. Scared because history doesn't always repeat itself, and while the markets always tend to trend up over the long run, well, it's still possible that the Great America could collapse. Isn't it that we've borrowed trillions of dollars from China, a country that is fast taking over as a great superpower? How long can capitalism, American capitalism, withstand the weight of the world moving forward?

The other night, when I was listening to CNN around 4:30am, with the news going back and forth between the economic crisis and the Prime Minister of Iran speaking to the UN, the following thought popped into my mind:

What doesn't kill you, makes you stronger. What makes you stronger, kills you.

Is America as we know it coming to an end? Or is everyone just way overreacting?



6 comments:

Wealth For Investors said...

I don't think we have even seen the end of it.. it's going to get much worse! The sky is falling the sky is falling..
investors are holding their cash and looking for investments in GOLD and with obama looking to win the election... he could be left with a mess which when he increases his taxes could be made worse.

Dividends4Life said...

There will be more shoes to drop, but with each crisis comes opportunity. It is up to us to find it.

Best Wishes,
D4L

Saurabh said...
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Betty said...
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