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Lessons are never learned! Even with all the historical documents from the 1920's, we are repeating the exact same behaviors that drove us into the Great Depression! Now well into The Great Recession, will we repeat the mistakes of the past or blaze into new paths for the future? My guess is we will repeat the mistakes of the past. Sorry I can't be a tad more optimistic.With Seven Hundred Trillion Dollars in credit default swaps floating around out there, as the basis of our wealth, what would we do if they all cascaded into default? Even the country of Russia has proven that a large nation can default on it's bonds and no one can help them bail out that loss. Japan is currently struggling because their national debt is equivalent now to their annual gross national product!
With our economy now based on casino gambling on Wall Street, and in the Banks, as they are the ones who hold most of the credit default swaps, how soon will it be before the luck runs out?
Japan might be the next country, after Russia, to show us.
The Third World War will likely occur around 2020 as at that point economies will be breaking and the National Treasury of many countries will be collapsing. China will go belly up because we went belly up because Japan went belly up. The perfect trifecta for a World War.
Real wealth used to be held in gold and Real Estate. It still is on a small level, but let me give you some perspective. The entire real estate value of New Hampshire, when I was a kid, was fifteen billion dollars. Compare that to seven hundred trillion in credit default swaps, and you'll see that the entire real estate value of the United States isn't even seven hundred trillion!
We used to focus on Fort Knox and the national wealth of gold it contains. Does it even still exist? Has all the gold been sold off? How much gold is still in there? In the old days, countries made transactions in gold. Now what do they trade with us, credit default swaps, stocks, and derivatives? A pile a paper that can become valueless in an instant.
So my message is the new generation should focus on building a country of real wealth, were we have real jobs that make great things for our lives, not more mathematics on paper. We must build great things, and once again, accumulate real wealth. We'll see what happens.
I also want to Thank Our Sponsors for the Ikeler4000. Keep an eye on the home page of Ikeler4000.com as we already have about a hundred and fifty sponsors and growing. Get an ad space now and share in the million visits per month to the web site that this traffic is bringing!
Stayed tuned!
Dr. Doug Ikeler http://www.ikeler4000.com/
