Greece and China Should Inspire Us

We can't ignore Greece and China because they aren't outliers. They are representative symptoms of a global economic weakness—they're just the first to start to feel the coming [a]ftershock. Greece may be drowning in debt, but the debt situation in the U.S. isn't all that great either. 

-- Aftershock Publishing

If my small study group of local citizens is aware of all the warnings of impending economic disaster, this indicates the public is harboring rational (that is, realistic) fears of future collapse.  This is a huge subject.  However, the important point is that although the actual fall of the economy may not be here yet, there is a belief spreading that it is not decades away either.  Some are saying it may be only a year or two a away, perhaps less.  

This week I have been writing almost exclusively of the Greek situation.  I'm sure today will bring more news of developments.  But if, as is being said, the Greek and Chinese situations are harbingers of what can and likely will happen in the U.S., then we in America, as well as people everywhere, should be very concerned.  

Yet we are not bereft of remedies.  One way to alter the future is to re-institute Glass-Steagall protections at the Federal level.  The Glass-Steagall law helped keep speculators out of the banking industry, and saved America from Great Depressions and Recessions for 75 years -- until 2008 after Glass-Steagall had been repealed.  

There is more which can be done.  I plan to have more to say next week.   

In the meantime, dear reader, keep the faith.


Type size has been changed.  I will experiment with the new type size and so what seems best long-term.  Thanks for your patience.