So, the EU agreed to loan it’s bankrupt members almost $1 trillion and the Dow shot up 400 points. Did anyone on Wall Street or at any of the investment banks catch the part that the countries receiving the loans are bankrupt? Exactly how is Greece or Portugal or Spain going to pay back $1 trillion when they can’t pay back what they already owe?
This whole line of reasoning being exercised by the socialist governments of the EU and the United States is the biggest lie western governments have ever sold their ignorant subjects. These governments cannot pay these debts–neither the loaners nor the loanees–and the have no intention of trying to pay them back. Instead, these loans give these governments more control over their subjects through increased taxation and regulation.
What can you do about it? It’s really rather simple: start depending on yourself and your local economy instead of the global economy. Raise your own food. Do business with local merchants. Pay in cash. Own what you own outright. Shed whatever debt you have. Do these things and do them now.
If you do, when the wheels finally come off the big economy, you’ll keep right on rolling along because you won’t depend on everyone else to keep going.