Stock Tumble breaks records again!

The Dow closed at 10719.48 showing a loss of -520.29 for the day's trading. That is -4.63 percent of it's total value. I don't put much value in a fear-driven market, but it is a sign of a much greater sickness that has embedded itself in our midst.

Ever since the impasse over raising the borrowing capability of the United States Government, things have gone from bad to worse. Many believe that the United States is about to re-enter a recession which may last for years to come. The world is sure to follow, and already shows signs this is beginning. It may be that this time around we didn't start it, but the echoes will pass throughout the western world and eventually the entire world regardless of origin.

The bigger problem is that the entire Euro Zone is in turmoil. We know the Middle East has been broken down recently. Europe is in turmoil.

There are riots everywhere and flames from lighted buildings glow in the streets of London. Who would have thought?

The United States dollar is worthless, and the only safe haven is gold. Will there be money tomorrow? What does it all mean?

Communist countries are now looking at the Western world and saying "I told you so!". It is true... they did. They said that a democratic world would eventually destroy itself as greed is the driving factor behind democracy. They stood by their values and continued on an even stride, but even their economies are jolted by our declining markets and resources.

There is no way around this. We have to tax the rich to give to the poor and stop over-taxing the middle class. Of course the Republicans in the House and Senate disagree, and due to their arrogance, we are doomed to fail. The rich will still have their billions, and the rest will have nothing.

Did you know that 400 people in America own 42 percent of it's wealth? That leaves 58 percent for the rest of us, which includes ALL of our debt. Since 40 percent of every dollar goes to paying down debt made by our government, that doesn't leave us with very much, does it? That credit card interest rate we all dread is far less than our government is paying to print money!

Who owns our debt? Have you ever wondered? Why are they able to lend to us when we are supposed to be the super-power? The answers are clear, and they are not pretty!

So goes another great empire, just like all those that have failed in the past. Oh America, we knew you well. Oh Great Britain, we knew you well. Oh Europe, we knew you well.

Time to hit the reset button? Perhaps so, and sooner or later some country will do just that. Flash, and we start all over again.

Perhaps God will assist us and save us from our own destruction. Let's pray he does!

Posted on 10 Aug 2011, 16:50 - Category: The Economy
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