A Britney Spears Guide to Global Economy
I'm a ninny when it comes to Dow Jones .. sub-prime mortgages and Fannie Mae stuff goes right over my head. But I'm smart enough to understand that we have to stop spending money we don't have .. that for our country to remain strong we need a sound currency. Gold and silver have always backed us. What happened? How did we let the banks get such a strangle hold on us?
"Wall Street fell sharply Tuesday, joining a global stock decline sparked by growing concerns that the U.S. and Chinese economies are cooling and that U.S. stocks are about to embark on a major correction. The Dow Jones industrials dropped more than 180 points.
A 9 percent slide in Chinese stocks earlier set the tone for U.S. trading, a day after investors sent Shanghai's benchmark index to a record high close.
Investors' confidence has been knocked down by a slew of data showing that the economy may be decelerating more than anticipated. [..]
Investors' confidence has been knocked down by a slew of data showing that the economy may be decelerating more than anticipated. [..]
Wall St. opened a few minutes ago .. so far things are looking better.
Chicken Littles are saying the Dow drop could be the harbinger of another Great Depression .. blaming it on the economic consequence of the "borrow and spend" Republicans.
It's a dang shame that we have gone from the biggest creditor to the biggest debtor nation. Talking heads on TV say reducing corporate taxes created this mess, and the answer to all of it is simple -- raise corporate taxes, stop borrowing money .. start repaying what is owed. Restoring proper taxation will rectify it.
I wish we weren't so danged dependent on others to loan us money to finance our deficits .. the declining dollar is causing other nations to move away from us. We need to get our spending under control.
NBC nightly news said the 500 pt drop was due to 3 factors -- the instability of the Middle East, the rise of Iranian influence since the fall of Saddam, and American debt tied to China.
How much of that could be Bill Clinton's fault?
The average Joe on the street doesn't have a clue about what is happening in the financial world .. and that's probably just what our government wants.
Congress continues to fund a war that's going no where .. but most people never stop to question where all this money is coming from. It ain't coming from collected taxes folks.
Our government needs 3 billion dollars a day from foreign investments just to make the interest payment on our debt. Last month we took in barely 15 billion. That's a hell of a gap.
Like I said, the stock market makes my head hurt .. but I'm trying to understand what happened yesterday. People are very nervous about how closely our economy is tied to China.
As the dollar continues to fall the Chinese will soon have us exactly where they want us .. they could say -- "We've got your economy under our heel America, invade Iran and we'll stomp it."
Shoot .. just when we were thinking about spending another 1/2 trillion to do just that ..
We have got to wean ourselves away from the oil! We have to stop sending battleships halfway round the world to seek control of oil.
There's a DVD out called "The End of Suburbia" .. part of it was about how when people started building out to a suburb, a railway was being built so people could commute from their jobs out to their homes. Then here comes the petroleum industry to buy out the railway and then dismantle it. Of course, they wanted people to buy their gas and drive their cars.
Some radicals even believe that the war with Iraq was actually started because US banks were getting nervous about Saddam selling his oil for Euros, not dollars.
And guess who began selling its oil for Euros last Monday? Yep, Iran.
This Dow Jones stuff scares me .. can we please get back to Anna Nicole and Britney's hair?
