We all know by now that the World Economic Crisis is looking grimmer by the day and the road to recovery is no where in sight. Still, there are pretty much people (here where I live) who are very optimistic that this is only temporary, and that we’ll get back on our feet as we’ve done a couple of times before.

Optimism? Stupidity is what I’d say. Pessimist is what they call me.

When the situation is reported by some unheard Economist/expert like Prof. John Kozy they would just side step it.

“Throughout the past decade, in conversations with fellow workers, neighbors, friends, and relatives, not one single time have I heard anyone boast about his/her increased feelings of wealth. They did, however, complain about the increased costs of essential products and services and the lowering of the real-dollar value of their incomes. They did not borrow because they felt wealthier; they borrowed to supplement their declining incomes in an inflationary economy. And bankers enabled them, encouraged them, to do it by offering easy loans with low payments without ever revealing the true costs of those loans. Consumers borrowed not because they felt wealthier, they borrowed because they needed the money. And when the Ponzi bankers’ schemes brought down the economy, repaying the loans became impossible, job losses eliminated incomes, and consumer purchasing declined. Unless jobs are generated that provide sufficient income to regenerate a consuming economy, this will not be a normal cyclical recovery >>.”

Will people wake up if the warning come from Wall Street itself? How about coming from Mr George (I’m god) Soros himself in a recent video interview release?

The system has broken down…
Game-changing event…
There’s a real danger that people don’t  understand…that the system was fundamentally flawed, and there is no return to where we come from
We’re in for a pretty lasting slow down
for the US economy what I expect is an inverted square root sign…(laughter round the table)
you don’t come out of it in a ‘V’ shape…you settled down…(at the level you fell)
the banking system as a whole is completely insolvent…
they will be drawing the life blood…away from the real economy in order to keep themselves alive…this is the zombie bank situation situation

Any which way the situation turns out, I guess I can live with it…maybe I’m a pessimist…and  for the rest of you, well…hopefully you and your family will be fine…