The US parliament (Congress?) did not approve the bankers bailout plan. Markets are going kaput.Of course, why should failed bank executives' employers, i.e. the banks, be saved from annihilation just because they failed?
Answer: Because the extent, the reach, and the consequence of their failure is tremendous.
Savings will topple, people are left without a penny, and those banks' senior management is left without its golden parachute...
Of course, some say that it is better this way. I'm not sure I wouldn't support this view myself: why use our children's money to bail out out bankers' fathers?
Whatever the case may be, it is useful to pray. Buying power in many European countries is down by 35% in the past 8 years. The erstwhile middle class is getting poorer.
And in becoming so, it is breeding widespread discontent.Easy to grasp, if you think of this in the following way: see your children worse off than you were.
In the hitherto inalienable grand scheme of life, offspring were supposedly bequeathed a better world than their forefathers.
No longer! Pray, pray, fast, right now, immediately. Who else is there to save us but God & ourselves. We are incapable of saving ourselves.
That leaves only God. Yet again.
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