Global Financial Crisis, Globalization And The Economy In 2010

Human Behavior and the Broad Social Trends Driving the Global Financial Crisis, Globalization and the Economy in 2010 - PART II

THE TAKEOVER OF THE AMERIKAN HEALTHCARE SYSTEM PROCEEDED ON CHRISTMAS EVE AS THE GANG OF 535, ALSO KNOWN AS CAPITOL HILL, ONCE AGAIN VOTED AGAINST THE INTERESTS AND SENTIMENTS OF THE AMERICAN PEOPLE

Nearly 60% of all Americans opposed this legislation, just as they opposed the bank bailouts, the bailouts of AIG insurance, General Motors and Chrysler, Cap and Trade, and other spending programs.
In addition to this lump of coal for America, which will cost at least TRIPLE the mainstream media's reports, once PHONY BUDGET assumptions are unwound; the bills for which to pay for being it sent to the public.

They also quietly expanded the bailouts of Fannie Mae and Freddie Mac, eliminating the caps of $200 billion a piece and expanding it INFINITELY, essentially acknowledging the losses that will ultimately be REALIZED and MUCH larger than disclosed.
If that is not enough, they REPEALED the reduction in their portfolios of 10% a year, explicitly allowing them to increase their loan purchases and guarantees.LAUGH when told about the welfare states of the G7, knowing the lies first. The FHA, aka the Federal Home Loan Banks, are following right on their heels having almost become the mortgage buyer of last resort along with the Federal Reserve.
The federal government is now underwriting 9 out of 10 mortgages being written. This is obscene and it is why you can BET that Uncle Sam and the Fed will not be curtailing their purchases anytime soon, regardless of fed HOT AIR. Between these two initiatives, approximately $300 billion of new expenses will be passed to the private sectors (taxes and fees) on a yearly basis.
This is the tip of the iceberg as you will see in the upcoming 2010 Outlook. Nobody benefits but the special interests served by the public servants; they surely have abandoned, or should I say BETRAYED, their constituents as sheep to be fleeced.

Healthcare reform is just a TAX bill in disguise; the costs, taxes and fees will begin immediately and the benefits slated for 2012 and beyond. It has been enacted to hide the hideous deficits by STEALING the funds just as they now do with Social Security, highway, FDIC and Medicare TRUST funds and then spending them for general budget expenditures.
John Williams at www.shadowstats.com is reporting that under GAAP (generally accepted accounting principles) accounting the deficit is actually approaching $9 Trillion ($9,000 billion) which is a close estimate of the actual deficit; to put this in context the total economy is $14 Trillion a year. This is the definition of moral and fiscal bankruptcy and the "something for nothing" personality.

This is only the beginning as the "something for nothing" citizens and their ELECTED officials ACCELERATE their own demise. G7: Public Servants, Banksters, Crony Capitalists and BIG labor unions are all acting as modern day "Jack the rippers" as they cannibalize and legislate the wealth to themselves thereby KILLING their economies to garner BIGGER shares of shrinking economies. They consume resources and misallocate capital away from wealth producing activities into FREE BENEFITS and it will ultimately result in the demise of the private sector. The "something for nothing" citizens are parasites that have OUTGROWN the wealth-creating private sector hosts.

I don’t understand why most people haven’t figured that out yet. It would be like the textile workers in 19th century New England waiting for a return to their heyday or whalers expecting things to get better. Software and productivity, combined with global competition for employees, has resulted in permanent shifts in industries.

What will happen is something new will develop - twenty years ago, the Internet was a non-existent part of the U.S. economy in any meaningful sense. Now, a search engine optimizer is paid $110,000+ per year. Ten years ago, the iPhone wasn’t even a distant dream, now you have regular people learning to develop iPhone apps and making millions of dollars.

The biggest danger I see is that most of the new fields are requiring more and more intelligence. In fifty years, I don’t know how there will be jobs for people that rely on manual labor because, at the rate we’re going, janitorial services could be completely automated, for instance.

I think 50 years from now there will still be plenty of work for skilled trades like house construction.

Anyone who has seen an episode of “Holmes on Homes” knows there is plenty of room for improvement in the construction trades.

Some construction mistakes are so costly to fix that better trained trades people will save a lot of money, and thus be able to be paid more.

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