I have always been dumb to economy, totally unaware of its direct or indirect effects on me until it begins to take its toll. Two years ago, I found it impossible for me to differentiate "mortgagor" from "mortgagee"(now I still cannot). My mum explained to me quite enthusiastically, perhaps wondering that I began to take interests in economy. But unfortunately not. I just stumbled over some difficult words which I found beyond my capability to manage. Now the whole world is almost unravelled by the financial meltdown, and the tension in U.S., the cornerstone of world economy, is escalating like wildfire.
I hardly paid any attention before, simply because my "income" is totally unscathed, in great contrast with the undulating financial atmosphere. People got panicky when insurance giant AIG went down without a helping hand, and the 700 billion bailout is like a drop of water merged in the immense sea of 9.8 trillion national debt.
"It is the vicious circle in the world of capitalism." I remembered my former history teacher saying that when she explained to us the Great Depression which spiralled from 1929 to 1933 and subsequently gave rise to authoritarian regimes. Roosevelt was a genius. He protected democracy in America, though at a high cost. But it proved that stricter regulation COULD prevent government debt from burgeoning, especially at a time when people's confidence in banks is plummeting. Government should re-establish people's confidence or else the cog of economy will never move.
The potential President of U.S will undoubtedly inherit a "mess", a mess created by those who regard themselves as the only ones capable of managing the mess. To my great amusement, Senator Maverick and Senator Change share many common perspectives regarding the 'mess'. Some commentators quip that they become "McBama" and "O' Cain":)
"You know, I think it is only America with her capitalistic gang in trouble."
"Nonsense! You know that stockmarket is 'going green' here?"
"Ah? Going Green...?"
"I mean it is 'bearing' here! You pumpkin head."
"Bearing..." I dreamed of E-Maths.
Oh, I see.
"Bearing" is the opposite to "Oxening"....
I should peel banana now...
RSS Feed (xml)
