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The tunnel and the light by Thanos Kalamidas 2008-10-07 08:33:14 |
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It was amazing to read that the German chancellor decided that the German government will guarantee people’s savings hoping that the rest of the European governments will follow. I don’t know if all of them can guarantee 100% of the investments and savings but the bitter truth is that it will be a pity if people in Poland, in Greece, Finland or Portugal lose their money because of Wall Street’s inabilities!
Now inability sounds pretty heavy but it is the truth, some greedy executives there thought that capitalism doesn’t have any limits and big fish eat the small and whoever survives in the end gets the fancy mansion in N.Y. and the private jet, ignoring that the money wasn’t theirs in the first place; they were just doing a job committed to their customer. That’s another point, after being so long there they forgot that the customers are not just numbers but humans with names and lives, much more worse is that they forgot that a mistake can be painful for hundreds.
But then it was not the first time they made mistakes, they’ve been practising since the early-80s and what happened? Well nothing more than some people lost their jobs and as a consequence their houses, cars and some of them their families, but then again they were just numbers. But the mistakes became more and more and more often, and the numbers became a wave and at the same time their greed became unstoppable.
Do you know what I hate more? This international dependence, this chain reaction. Why suddenly I have to pay more for my mortgage in Finland and risk losing my savings because an idiot in California has screwed up! I mean put the bastard in prison and lose the key if I care. Do these people know though how many things I had to go through to get this mortgage? I nearly had to put my body as a guarantee and then because an idiot banker in Florida thought that they can give loans without guarantee my savings are in danger.
I have said it many times that I don’t understand much about economics and I’m not the type to gamble, I mean I’m one of those who see the stock market as gambling. The two investments I have done were made after a lot of thought and making sure that they could give me a bit more than the bank, but they could at least guarantee that in the end there is something for me. After all, by investing or better by giving my very real money to a company with the right knowledge they would use them for the common good, a kind of partnership and then out of the blue without my knowledge I got a new partner from the other side of the ocean who screwed up with his money and I have to pay! Hallelujah!
I really like what the German government did but then again Chancellor Merkel had to follow Ireland’s example, they were the first to do so and actually guarantee 100% of the people’s savings. The best part of the story? The other EU partners got angry because Ireland took one serious decision without asking them. What a pity the UK had spent a whole year with Blair touring around all the capitals making sure that all the partners agreed to the invasion to Iraq! Why did they get angry? Because they were forced to follow the Irish otherwise they would have to deal with their own people who would naturally expect their governments to support them guarantying their savings. That now makes you wonder, what would have happened if the Irish hadn’t done that move! The usual thing, we would be screwed!
What will happen, I haven’t got a clue and I’m browsing the financial papers and news daily to find out. Long analysis reassures me that everything will be alright, we just have to go through this dark tunnel but then the bright light awaits. The problem is that we are in this damn tunnel since the '80s and I cannot see any light; it is all dark and I’m afraid that I will never see the light.
money Ireland Finance Economy |
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