Anyone But Me Getting Nervous?
John ShoreBesides here on Crosswalk, John blogs on JohnShore.com.
- 2008 Sep 26
On September 15, Lehman Brothers goes bankrupt. For the next 10 days people rushing to secure their money withdraw $16.8 billion from Washington Mutual, precipitating by far the largest bank failure in American history.
Lehman Brothers, Bear Stearns, Washington Mutual, Merrill Lynch, Goldman Sachs, Morgan Stanley, Fannie Mae, Freddie Mac, AIG. American mainstays of the world economy. FAIL.
The president of America goes on world-wide television and says things such as, "Our entire economy is in danger," "We're in the midst of a serious financial crisis," and "Major sectors of America's financial system are at risk of shutting down."
We're mired in a war that (besides 4,000 American and approximately 90,000 civilian Iraqi lives) has so far cost us well over $500 billion---a number certain to end up in the trillions.
Twenty-eight million Americans rely on government food stamps to buy their food. And that's now.
Russia/Putin has announced plans to spend $95 billion on defense and security in 2009. By 2020, Russia plans to have built a space defense system and a whole brand spanking new fleet of nuclear submarines.
Russia/Putin also just loaned virulent America-hater Hugo Chavez, president of Venezuela (from whom America buys about a million barrels of oil a day) $1 billion for arms purchases and military development.
For the last 20 years in a row, China's military expenditures have marked double-digit growth. China has recently spent around $100 billion developing lots of new weapons, especially including long-range nuclear missiles.
Now, by nature, I'm not a "Let's Panic!" sort of guy. I'm very more of the quiet type. One of my pastimes, for instance, is reading books about world history.
But is it just me, or does anyone else find their heart beating just a little bit faster these days?