Hi Kerry. Well, that's the theme of The Great Financial Collapse of 2001 stream, aka Booms, Busts and Recoveries.
There certainly are plenty of pressure points. Some keywords:
Brazil, Argentina, etc ...
J P Morgan
Citi
Bank of America
Derivatives Twin Towers
Debt versus assets versus income
Biotelecosmictechdot.com lack of revenue and profit
Unemployment
Poverty effect
Greed, fear, anger, sorrow, depression
Legal logjam
Political and economic ignorance
All very worrying, but really, although horrible for those involved, what matters is the stability of the totality. The totality is adapted to taking pretty big hits without collapse.
Since we've had over two years of adapting and unemployment is still around 5%, it's fair to say that things are good! Certainly compared with what I imagined might happen a few years ago when the crunch inevitably came - I'd concluded that what would happen is what has happened, though the crunch has been more than I thought [in the Nasdaq anyway].
I hope you are wrong about the crunch just getting warmed up for the main event. It better hurry up or everyone will get sick of waiting - attention spans aren't what they were.
Mqurice |
