The Economic Crisis in Europe

[Cin]

Originally Posted by Kobi

"Financial terrorism and economic weapons of mass destruction, how come we don’t declare war on them?"



Good point. My only question is who is the "we" you are referring to?

Is the "we" our own financial institutions who stand to make a killing here, or if they make the wrong decisions, will throw the world into a depression and utter chaos?

Is the "we" the US government who is the means to an end for those mentioned above? The government who put the taxpayers on the hook for billions and trillions without requiring any accountability or punishment for those who created this mess? The government that employes the key figures in the meltdown in strategic positions and appointments?

Is the "we" the the individual taxpayer who has tasted what it is like to reap the fortunes in high risk stakes and then watched their fantasy burst as the house of cards came tumbling down? Is it the people who are struggling just to survive and who still believe there is a magical answer that will restore their fantasy life to solvency and financial growth? Is it the people who can recite the marketing they were sold but have little clue as to how this entire game is played in totality and by what rules?

Who do you expect to wage this war?

Actually I was just poking fun at how the US always declares war on inanimate objects like drugs, terror and poverty. I don't actually expect anyone to declare war on Wall St.

Although it would be nice...

I don't expect anything to change at all. There are no restraints being put on these people and there is no intent by our government or our elected officials to ever do so. And clearly no one in Europe is prepared to call the bluff of hedge funds. Nobody is going to put a stop to or some controls on derivatives.

The only change I can see is that, because derivative got a bad name with the people who actually understand the housing market debacle wasn't about some people getting loans they couldn't afford and some people who couldn't pay their mortgages destroying the world's financial system, we won't hear the term derivatives thrown around much anymore. But rest assured they are alive and well and pointed directly at the heart of our financial security. Credit default swaps are derivatives. Very, very dangerous derivatives. And still no restraints in sight.