Monday, 1 March 2010

the truth is in global...

it just seems nobody dares to say so!

Keeping yourself informed is easy. News nowadays are mostly dyed information but the wwweb's capacity, provided it is left uncensored and you are willing to dig deeper, helps to round up one's picture, one's views.

When it comes to our current problems there must be a certain level of agreement amongst global intelligence - referring to brains' capacities - which explains why very rarely the global scale of our crunch(es) makes the headlines.

Greece is discussed at length, the longer the more abstruse and offensive but with no solutions while sovereign debts of all global and definitely all wanna-be global players are way past comprehension; once the weakest link gives the rest will be waste paper.

UK's economic figures from growth to export, unemployment to imports are discussed same as bail out and stimulus packages as if we would live on an island in economic isolation (sorry, no jokes, please). At the same time Prudential purchases AIG's AIA (AIG's Asian business) and one of the first question is whether Pru's headquarter might be relocated to Asia.

Britain's Gilts lose Triple A lustre for investors hits the headline today accompanied by comments trying to comfort the readers with Britain's' level of debt and its servicing costs allegedly being more favorable than that of other triple A rated economies; tripe "A"? Who? We? Really? How much longer? What for? Why? What a relief!

Pound suffers sharpest fall in more than a year as prospect of hung parliament looms: is it really the British polls that make the currency tumble? Is it not rather the trust in a country and its economic strength? The trust that the global competitors are lacking? Or the rest of the trust the global gamblers are betting against? What is left of the City's corona and the nation's export strength - what of its political and economical influence?

The majority of all political systems and governments find themselves in economical gridlock; they all ran out of means, i.e. money, that simple. We lost the bailout battle as it was too little, too short but too many and above all too much. The spiral leads downwards! In fact the battles were programmed to be lost when we agreed to take part in a global game with faulty, unbalanced rules for some but the invitation for economic bonanzas for others. Hindsight is easy but foresight was blurred by $, € and £ cloud-cuckoo-land-dreams.

From global perspective - and that is what is the only one counting - the current delay in coming up with answers is an expression of the global incapability to solve any of the crunches and not the simple and rather naive attempt of single national governments to buy time for anything to turn to the better.

Global incapability not knowing where to move from here as any move more than likely will start the final meltdown.

Carpe diem!


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