Fear Based Economy

Hello again. Sorry but am having a problem typing.

As I have written previously, we have a new set of rules. I recommend you read that post, it gives basis that I just can't type right not

Your dollar/euro is a pretense. You accept it as having a particular value...at one time that was the gold standard, which is behind the "black gold"that described the slave trade, then oil. What was required to make the society function at time was each of us doing a job society needed. Wealth was created, leisure, culture even. Then there was energy. When it became oil that was a value. When it was horse power or labor-yours and mine- that was value.

What happened after we got into the reagan/neocon rule is all deception, as the real values were taken away and wages diminished,though the workload increased. The deception was substituted for the reality of producing. The management/executive/deceiver took the value and slipped it away from you and me. As long as we accepted the value management said existed, the system worked. It just didn't work for you and me. The money was based on belief. Your brave punditsa of course went with and for the $$.

The credit crunch has been created by the total collapse of regulation, that has allowed criminal elements to remove value and substitute fanciful valuations.

Assessments that gave real value to loans that did not have any possibility of being finally paid off, then putting those with good loans and calling them all good - as long as the pyramid scheme held up and no one was left holding the empty promise - yep, the financial industry's golden standard gave up the concept of value altogether. Then our system of economics was broken.

When we got to falsified assessments, we had only the concept left of actual value. As long as the investor banks would accept a valuation that had no real value, the wink and nod, we moved to fear. As long as no one spoke, no one would admit to false basis for the dollar, everyone would be fine. The crooks were calling this 'consumer confidence'. Though the same banks/investors knew the subprime loans were for the most part scams, they took the whole package, because no one would be the first one to speak our about the deception. Your Fed had the power to call for solid standards, and decided everyone better keep the pretense going.

Hope you're ready to be afraid. Because the bottom fell out. It's going to fall as far as it needs to reach basic values.

If you, or in this case, your banker, don't accept the pretense of value, you have to see your dollar has become valueless. You and I are the value.

That house you are watching tumble is the last remains of belief.

Without regulations being enforced, without the rule of law, there isn't any value.

Recession? More like end of the era of the rule of the jokers. No, I don't have to use stronger language. We know what they were. We have to rebuild the constitutional government that made the whole system work.

When we have laws that are enforced, we have value. Meantime, I have my little garden planted.