It is pretty obvious if most banks start to fall because big problem rises and is associated with the current capitalism and the money market’s world system. The tax payer’s money is being put down the big hole. The corporate fraudulent trading, selling and buying by the banks of bad debts are washing down the economy’s system that was built on sand. A lot of people are suffering from low income due to the world economy’s recession. Because of this, most people opt to get credit cards and loans.
These alternative ways could greatly help people to buy their everyday needs without the hassle of paying with cash. However, high interest and payment dues are some negative things to consider. Credit card companies offer high interest rates. Some people ended up getting credit cards for bad credits because of unemployment. Some businesses were shut down due to bankruptcy. This is the common reason why a lot of people incurred bad credit ratings and are forced to get bad credit credit cards.
We do not have any choice but to go for something which we think is convenient. Losses are incurred. There are no longer real profits. This might be the reason why bankers were ripping off the public and are paying themselves millions of dollars in the process commonly known as the giant corporate ponzi scheme. Instead of finding for a resolution, governments tend to only avoid the building up of government debt, personal debt and corporate debt.
As a result, people who are suffering financially are lurking under the surface. People are starting to lose their jobs, businesses and properties.
They would want us to live beyond our means which is really the cause of the problem. Though they would want us to get out of such mess, the real solution of the problem is not this way in the first place. Savers are punished for being too frugal. However, this should not be the basis of a healthy economy after all.
This may be the worst recession since 1940’s unless the government would find ways on and do everything to get out of this nightmare.
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