Archives for May 22, 2010

While the economic crisis hit the United States hard, it hit Greece and some other European countries harder. Greece seems to be the worst off-there has been rioting in the streets (never a good sign).

While Greece once enjoyed an excellent rating from a financial standpoint, the evidence seems to be that the country was cooking the books with the aid of certain financial companies. The gist seems to be that Greece was hiding its debts in a way that enabled it to maintain  a good rating when, in fact, it was high risk. This is, of course, all part of the pattern of how the financial evil magic of Wall Street enabled economic chaos to rip through the world.

Interestingly enough, most (if not all) of this seems to be completely legal. This is hardly shocking, since the folks who write the laws are rather close to the Wall Street folks (identical, in some cases-which is as close as one can get).

What is most interesting is that failed terrorist attacks stir up far greater concern and responses than the financial misdeeds that have done so much damage. Of course, the financial folks are not considered terrorists. After all, they do not aim to create fear and terror. The fear of unemployment, the terror of losing one’s house, the horror of riots and financial collapses are merely the side effects of their misdeeds.

In response to the Greek situation, other countries have stepped in to provide money. This includes money from American taxpayers. In short, the rest of us are being forced to pay for the misdeeds of those who profited from creating this financial nightmare. Worse, little or nothing is being changed to prevent it from happening again.

At this point, I am not claiming that this is the start of the downward spiral of Western civilization. That is a matter for historians to sort out after the collapse. However, financial ruin is a good place for the end to begin. Thank you Wall Street for your contribution to bringing down the world. Enjoy those profits.