In the wake of the economic troubles roughly centering around 9/11, the United States and the European Union enjoyed explosive growth, propelled mostly by the housing sector of the economy. Flash forward to the present when this entire trend of growth is amounting to so much nothing, and one must consider how much this growth really amounts to. Was this entire boom created by the Federal Reserve, the European Central Bank, and other prime lending institutions as a way of creating growth from nothing?
What would you do if you realized that everything you've done for the past six or seven years did not add any value to anything? If you realized that all of the work you had done was so much busywork?
Some are openly talking about recession, and some are talking about the "d" word. Considering the way that ECB dropped $500 billion in capital into the financial markets, they must be worried about the huge bubble that they've helped develop in Spain and the southern Mediterranean.
Wednesday, December 26, 2007
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment