Friday, September 26, 2008

What can we make of the week..... any new pleasure?

Seems after my first flurry of blogs there was a calm and lethargy in my willingness to seek clarity in my thinking............. I read all the news as usual and took some pride in seeing the future unfold well in line with how I had seen it..... I still believe we have more pain to come for sure. The bill for the extravagant exploitation of the property mortgage business is going to have to be paid. Of course, those that profitted directly from the development and sale of "TOXIC" assets should be accountable. But what about the foolish lemmings who paid the high property prices and conned into borrowing money that they could never repay!! It seems to be that all the socialists in the world will love to put all the blame on fat cats and now our politicians are seeking out the fat cats as the "real" enemy and scapegoats ! But in the whole scheme of things it has to be people's own stupidity and foolishness that made this happen. In my whole scheme of things it seems the blame can only fall on ourselves, even though we pay a high sum for those that govern to do so in our own interest. How come with all the brain power and money spent no one can see it coming !!!
I am thinking that many of the fat cats have lost one big part of their fortunes with the stock they held or were given as part of their remuneration. I guess many other people in the financial field have lost huge slices of the equity they probably thought was really safe. of course by far the lion's share of loses will be in all our pension schemes, but since that gave so small a return maybe some of it will still survive.

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