I have held off making any hasty comments about the latest Market carnage and the very troubling riots in the United Kingdom - until I got the facts.
Facts are: Youth unemployment in Britain is endemic and getting worse. Food and shelter are expensive in the UK, like everywhere else, and a lot of young folks realize they will never have a decent life. No jobs - no future. Bleak would be the word.
The whole world has been watching the gyrations on the Stock Markets and this stems from too many years of fiscal stupidity from Central Governments.
We have a QUADRILLION dollars worth of CDS (*look up Credit default swap) off books around the planet - and no one knows who owns or owes what.
The Credit system came close to seizing in 2007-8.
Once again, we are close.
Nervous times.
Facts are: Youth unemployment in Britain is endemic and getting worse. Food and shelter are expensive in the UK, like everywhere else, and a lot of young folks realize they will never have a decent life. No jobs - no future. Bleak would be the word.
The whole world has been watching the gyrations on the Stock Markets and this stems from too many years of fiscal stupidity from Central Governments.
We have a QUADRILLION dollars worth of CDS (*look up Credit default swap) off books around the planet - and no one knows who owns or owes what.
The Credit system came close to seizing in 2007-8.
Once again, we are close.
Nervous times.
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