Financial markets continue to meltdown and the average person is bearing the brunt, not the monetary whiz-kids that devised this whole system of lumping mortagages and securities together into packages that were just paper, which was then secured by other paper which was then sold in exchange for other paper.
It’s quite literally a house of cards that’s collapsing here. True leadership here would be to say “Yep, it’s going to collapse and then we’ll be back into a system of actually trading real assets instead of imaginary ones.” That’s the way it works with my personal checkbook and if the financial system were built the same way we would know what real, not imaginary, prosperity was.
Just my two cents.
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