|
  |
|
|
Credit Crunch and Capitalism, what is it doing to the masses?
By Jalal Miah
We are led to believe that we are now in the depths of recession due to a "credit crunch". What is this "Credit Crunch"? How did it come about? Credit Crunch I truly want to know how many people out there are feeling the effect of the so called credit crunch, what percentatge of the population have lost their job? What percentage have had their properties repossesed? what is meant by credit crunch? I think it was irresponsible of the government or the media to make such a bold statement, it put the thoughts into the minds of the people, so their focus became doom and gloom. I think there should have been more rigorous procedures that should have been followed, it appears to me that these banking institutions have not learned their lesson from a few years back with the Nick Leeson saga, I know it was a different situation but they should have had the insight to predict what could happen and put a mitigation plan in force. These share dealers needs to be accountable for the decisions they make to feed their greed, egos and short term gain. In this period where people are worried about their jobs and houses, those fat cats who have taken their huge bonuses and left a mess behind should be made to pay back their bonuses. These investment bankers should be made accountable, yes o.k we are always told that share prices can go up or down, but to go as low as they have surely could have been avoided or at least minimised. We are letting these people take huge risks with our money, yes the reward could be great, but as far as I'm aware they will get their bonuses come what may and may not be as big but still substantial compared to the average wage. They need to have stringent procedures to follow. It's not only effecting individuals, it's also bringing down governments. Who is to blame for the credit crunch? In my opinion, the masses are to blame, they made the decision not to live within their means. The housing market is a prime example, for example arranging a mortgage, yes they were offered a greater multiplier and a relatively low interest rate. Everyone has the right to own their own property, but if you can't afford to live because you have stretched yourself whose fault is that. Everyone makes their own choices and therefore have to live with that choice. They know what risk they are taking, they took that risk and it did not work, you have to live with the consequences of your actions. When you find yourself in that precarious situation it is up to you to get yourself out not the government. On the other hand if the banks have made grave errors of judgement then they are responsible and should be accountable, however, as we have seen and I have mentioned some banks are being bailed out by the government, in effect by the tax payers money and additional loans. Bailing out the Institutions I just find it quite amusing that the government are being credited with bailing out the banks, wheras infact we the tax payers are actually bailing out the banks and getting ourselves out of this mess, don't be fooled to think that our illustrious government have a rescue pacakage, we are funding majority of the capital that is being touted as the rescue package. Capitalism In a nutshell, capitalism basically states that the capital should be in the hands of the people, it is, but it seems only in the hands of the minority. We can all make money out there, there is enough to go round for everybody, there is an abundance of wealth out there. We all think that having the money will make us happy, sure it can to a certain extent, it's what you do with the money, I don't think it's important how much money you have, I think it's more important the character you are, a phrase used by Jim Rohn "If you live well, you'll earn well" it's more important how you live your life, yes having the money helps, but it's more important the person you need to become to get that kind of money. We all saw the demise of communism, a system which basically states that capital should be in the hands of the almighty government and the people gets what they need for survival, I ask is capitalism any better? It's the sheer greed of people and their misuse of money that makes me wonder if capitalism is working or not. I think it's important to have money and feel comfortable about making money, but it's how we use it and our relationship with money that determines the response to capitalism.
This intel first appeared on: http://www.zenhealthblog.com
|
|
 |
|
PLEASE VISIT THE CONTRIBUTOR'S WEBSITE
No reactions yet.
Please login or sign up to rate this intel.
Please login or sign up to add a comment.
The copyright for this content entitled "Credit Crunch and Capitalism, what is it doing to the masses?" has been specified by the contributor as:
All Rights Reserved
This content may not be copied, distributed or adapted by anyone under any circumstances.
|
|
May, 2012
2008
January, February, March, April, May, June, July, August, September, October, November, December
2009
January, February, March, April, May, June, July, August, September, October, November, December
2010
January, February, March, April, May, June, July, August, September, October, November, December
2011
January, February, March, April, May, June, July, August, September, October, November, December
2012
January, February, March, April, May
|
|
Not a member yet?
Qondio is a powerful network for making it online. If you have a website to
promote, we can help.
Sign up and get in on the action.
|
|
Welcome to Qondio! Discover the awesome power this network can deliver by going to our About page. Or you could skip straight to the Sign Up form.
|
|
