| Untagged | 5 Oct 2008 |
| It takes an idiot to make in idiot Rich and takes a wise man.... by agkennedy |
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Sorry I have not written anything recently but I have been too busy reading the papers! Endless columns and newspaper journalists are flooding their pages with data about banking shares and crashes like we have never seen before. And what a show it is too!
But I can't help thinking. Did people not think that the banks where overvalued in the first place? Why did people go forward like desperate lemmings (which are pretty desperate anyway) and throw their good hard earned money into such institutions and trust such monsters? Nothing should be trusted apart from our own gut feelings and voices from our hearts, why do people not listen to the most important voices sometimes, their own?
I'll be open with you now. Kennedy's has an account with the RBS, yesterday their shares went down to £1.00 (they were £6.00) at their peak. They nearly went out of business, end of story. Dinosaurs only live so long without adapting to what we need ! But how where they valued at £6.00 in the first place? Banks hold debit. If my company held debit like that it would not be solvent and most certainly not be in business now. These banks are actually worth minus XXX billion dollars. Why rescue a bank, what about a food producer or farming, food keeps us alive doesn't it? Oh no, no such help or morality. We don't have morality in this game and clearly a political game it is and one that has been played for too long. Its almost like God now says I told you guys not to mess around like that, it was only going to end in tears.
Whats next? I'll tell you becuase I know... pensions are finished, who is going to invest? They just lost over 30% in one year. Not an investment for the astute thinkers anyway. Food prices, oil and commodities, in fact all prices for everything are set to drop, good news, they where too expensive, simple. At last we will see prices for things that people can afford and not get ripped off anymore. There will be tens of thousands of job losses and finally people might be able to afford to live. Now anyone who wants to survive in business must have first and foremost a good price. Interesting times ahead and a good thing in the end.
One last thing- the biggest change of all is that this crises is wiping out the lemmings. When I say that, they have wised up. It's not going to be possible to be a fat cat anymore and fleece people, they will be much mouch more careful.
It takes an idiot to make an idiot rich and takes a wise man to make a rich man an idiot
