Friday, 24 October 2008

The ongoing collapse

It is an interesting time.

The markets, house prices, commodities and consumer items continue their fall, the talking heads on Bloomberg and MSNBC are puzzled by what they term 'irrational selling', but what could be more rational then selling what is probably overpriced?

The incredible dumping of trillions of dollars into the markets and banks in the passed few weeks will fire a destructive inflation that will leave the people of the world aghast. These bailouts were not only immoral, but recklessly stupid.

Britain, under the guidance of the incompetent Brown, has over the passed few weeks dumped well over a trillion pounds into their banks and financial system, the GDP of Britain is not much more then one trillion, what happens when one does that? Massive debilitating inflation, am I the only one that knows that?

Here in Ireland our porcine Taoiseach Mr Cowen, has guaranteed the full amount of all deposits in all Irish banks! That may sound good, but what happens if that is tested, will we the Irish people be able to back that up?

Iceland has in all effects collapsed, it's banks are nationalised, bank accounts of Icelandic banks and businesses have been frozen in Britain, under a terrorist act, something that sounds like an act of war!

This crisis is only at it's beginning, there are many months ahead of crises, it shall take many months, perhaps years, before things have stabilised, and what we shall see will be a different order, perhaps one influenced by traditionalists?

Now is a time to hunker down and wait, in a few months it will be the time to take advantage of the situation.


Anonymous said...

Listening to talk radio here in the U.S. (Florida) the other day, I heard a segment about the Irish economy. Like everywhere else, Ireland is experiencing difficult times and the immediate future seems bleak. The reporter mentioned that was once called "The Celtic Tiger" is now being called "The Celtic Garfield." One young Irish artist interviewed mentioned that she was finally able to purchase a home, thanks to the falling housing prices; however, due to lack of work, she may have to leave Ireland.

My husband and I pray for Ireland. His mother's side is Irish and we went there on our honeymoon 10 years ago.