System Failure

I just listened to the entire webinar (http://www.cashflowheaven.com/os/debtcrisiswebinar.html) and to be honest all it does is add credence to my opinion which is that due to the global debt situation Capitalism as we know it is dead! What we are looking at is system failure.  The only way to get out of this mess is to stop playing with the ‘Fine Tuning’ dial and change the channel of thinking. I think the governments need to come together and work out a systematic and controlled forgiveness of debt – the same principal as the UN has applied to 3rd world countries. The reason they gave when implementing this was that the years of heavy interest payments has prevented those countries from emerging out of squalor. Billions and billions have been forgiven with the intent of enabling these crippled countries to move them out from under the financial boot of the west – it’s about time the west began applying the same rationale to their own situations.

The system is broke, it is not sustainable and what we are witnessing is the collapse of capitalism and what may emerge is anybody’s guess – my fear is that there will be a lot more pain for all of us to endure and yes – maybe another war – which always seems to result from these financial crisis. The investment industry, to a large degree, involves investment that are either backed or guaranteed by governments. However the governments themselves are now insolvent so where is the security? There is none. I said when Obama got elected that he was America’s last chance of regaining international credibility but he has proved that all politicians simply become part of the system – a system that is corrupt. I continue to move forward with my various initiatives but I do so with one raised eyebrow on the state of the global economy – nothing will surprise me as we move forward.

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