The World Economy is shaking. For some, this is an event that can be used as a political hot potato to be pitched back and forth. Others are using this as a spectator sport so they have some news to report. Some have no idea what is taking place around them.
Instead of people making this political they should begin to understand the implications of what is happening and the connections around the world. It is not all about greed. It is not all Wall Street. Much of what we are watching has taken place on Main Street and down the street from where we live.
The oversight that was to be put in place was designed when the trading and banking systems came in person to a window with a slip of paper. Today the trades and decisions happen in milliseconds, twenty four hours a day all around the world.
This started in the sub prime market. Then the capital markets. Small businesses are looking for credit. The fundamental building blocks of our economy are being thrown around like children's toys.
Technology has driven productivity. However, it appears to have moved so quickly that the markets are unsure of who owns what to whom.
Imagine. A large financial institution on Wall Street failed. A bank in Asia is shaking because it loaned large sums of money to that institution. Countries around the world today were putting dollars into the system so that their economy would not .
Our economy is shaking. Our nations comfort and security is at risk. It is time for serious people to step forward with serious solutions to make this country, our citizens, and our way of life sound.