Quote:
Originally Posted by Stranger
Bank problems are surfacing even worse than ever, governments aren't paying attention to the economic problems like they used to - and if they are it's just lip service. The Canadian Gov't (for instance) - Harper - doesn't even GAD about all the ppl. protesting - getting up in arms about proroguing parliament yet AGAIN! To him it's business as usual - he is totally oblivious and unfazed by what the people want! Premier Stelmach (provincial leader), is the SAME....also not paying attention to any protests about so MANY disturbing issues ....having closed door sessions regarding our 'popular' oil and gas royalties etc ...and on and on!! WTH????
A while back I read/heard somewhere (prob. PC), that over 50 banks were supposed to 'fail' in January '10. The PTB would let the ppl think that Dec '09 was the begining of great econo. recovery. Everyone would spend like crazy....making more $$ for them. That's exactly what happened. Ppl. spent a LOT of money last Xmas. NOW we have another situation to get $$ out of our pockets - with the earthquake!! The money being donated is apparently unprecedented!
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I've been researching the economic situation daily for about two years. Here's my conclusion: yes, a whole bunch of banks are going to fail this year and the FDIC is in the red. That in itself is not a problem for the financial industry because they just use the large banks to take over the small banks and then cook the balance sheets and provide government funding such as bailouts and now the nationalization of student loans. This can go on and on and on. The only thing that can put a big crack in our system is from a foreign government such as China, Russia, or India pulling out of the dollar or if China decides to freely trade their currency vs. the dollar or if we hit a real situation like peak oil or what not.
I'm not sure how us spending to rebuild Haiti has any effect on the financial system except for the banks making 3% on the credit card transactions which in itself is a friggin lot of money, but like I said, they have other ways to keep their balance sheets looking good, so that isn't a motivation in itself.
The only conclusion I could come to is if this was intentionally caused by man made forces, Haiti would have to have something we need such as oil. Is that the case? I'm sure their actions long-term will lead us very close to the answer.
--sjkted