World Leaders Boast Economic Crisis Will Be Over Within 18 Months

Sure to be front page news at everybody’s breakfast table, World Leaders have made the bold prediction that they will overcome the world’s economic collapse within the next 18 months. I am surprised that they have painted themselves into a political corner by offering up a timeline because it is, for lack of a better word, bullshit.

Fact of the matter is they have no idea when this financial collapse will end. They have no idea how to end it. They were the ones who allowed it to happen in the first place.

It is easy for me to draw this conclusion because they offered up an 18-month window with no substance. Like the ole doll said in the Wendy’s commercial so long ago, “Where’s the Beef?”.

When a collective of our World’s Leadership issues blanket statements and then provide no road map to get there it is easy to see that they are offering up lip service to the media, which is meant to sooth our collective bruised egos on the greed-o-meter.

I wonder if anyone would listen to my solution to this mess? Interested? Well here goes:

Halt the Bailout Process

The bailout, as far as I am concerned, is a violation of the US Constitution and does nothing but dilute the dollar. Think about it. Since Nixon did away with the gold standard, the US dollar is only backed by itself, based on consumer confidence. So where is consumer confidence right now? In the tank that is where.

Where did the $700 billion bailout money come from? It was created out of thin air by the FED and loaned to the government. Unlike the multi-trillion dollar debt, which is held by foreign countries such as ‘EVIL’ Communist China, this cash is only worth the paper it’s printed on.

This dilutes the value of every dollar in circulation and puts the USA, and by default, the rest of the world, on a collision course with hyper-inflation.

I know that what I am saying will not be picked up on by the ‘powers that be’. They have committed to their bailout process. I am here to tell you it will not work. It will make things a lot worse than they should be.

Ever hear of the Weimar Republic?

There is a way out of this mess. It is not a quick fix. It took years to create this mess and it will take years to get out of this mess. How? Read on…

Declare bankruptcy

There is an effective, much maligned, tool available to companies and consumers alike, when they have too much debt and not enough assets to cover them. It is bankruptcy. It is the best way to wipe the slate clean and start over.

Just because the current crisis is so widespread and on such as large scale is no reason to have knee-jerked reactions by starting up the currency printing presses. In a Capitalistic society, such as the USA, stepping outside of the accepted model of maintaining economic stability admits that such a model is flawed. I strongly believe in free enterprise but it must be controlled by Big Brother to the extent that regulations exist that require corportations and people live within their means.

The World has Gone to Hell

World Leaders felt that they had to bailout large corporations or the world would go to hell. Well if that is what it takes…then to hell with it all. Let it crumble. Since the mess is large, the scale of bankruptcy will be large…but so what. If corporations and people are in such a bad way then they should pay the ultimate financial price and sink!

The slippery slope that the world is on could begin to reverse itself with this financial tool. Corporations and people alike will be protected from their creditors. They will be forced into a situation where they will have to live within their means. Painful yes, but in longterm it will provide a more solid foundation in which to build on.

This additional money added to the economy will have offer a short term economic stimulus, much like given a heroin addict a quick fix. But at the end of the day bankruptcy is going to occur except governments will go belly up along with corporations and people.

Big Brother is not Grampy

We are all used to being spoiled by our Grampy. It is his duty to spoil his Grandkids no matter what wrongs the kids may have done. This is the same logic being applied to corporations right now. Crazy, crazy, crazy. The bigger the mess the more Grampy throws at them. What is the lesson learned here?

Whether a corporation or a consumer, any entity that has made bad investments or over-extended their credit needs to take responsibility for this mess.

Corporations, in particular financial institutions, have bought, sold, traded, issued bad debts, and in a lot of instances funded more bad debt with existing bad debt. For shame. And these same idiots are being bailed out by the taxpayers. As big a joke as that is, no one is laughing.

If you have over-extended your credit, buying everything from houses to autos to Nintendo Wii’s, then you have contributed to this mess too. You have been living under the manta of “I want it now no matter what” and too many greedy corporations have been satisfying your insatiable appetite to buy now and pay later.

Years not Months to Fix this Problem

My prediction of years to fix this mess is more accurate than the people running this planet. What does that say about us as a species? Why do I say years not months? Because of the bailout process, I predict that the US dollar will become worthless because of dilution and falling consumer confidence. Are you holding other currencies? If the US dollar collapses your currency will also collapse. They are all tied together.

Consequences of the Bailout

The video says it all. It will get a lot worse before it gets better and governments will be the ones to go bankrupt. People will be trading to their Blackberrys for soup spoons.

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