Creditum krisis –The Global Disease of 2008

The economistsare on the verge ofa nervousbreakdown…

And some media think that the economy might be too!

The economy was in deep pain even

as the government pushed forward

Wednesday with its latest financial rescue plan to exchange

taxpayer money for stakes in the nation's banks.

October 16th, Associated Press

"

"

President George W. Bush reassured

Americans on Saturday about the

long-term health of the economy,insisting that the United States is still "the best place in the world to start and run a

business.Agence France-Presse, October 18th

"

"

…still, credit - the lifeblood of the

economy - isn't flowing freely by any

means.

Los Angeles Times, October 18th, Tom Petruno

"

"

Let’s put our white coatsand see how economy is.

really

let’s see the symptomsFirst,

" Since January 2008, owners of stocksin U.S. Corporations have suffered

about $8 trillion in losses "

Source : En.wikipedia.org/wiki/subprime_mortgage_crisis

Which would cause anybody a major headache!

" The year 2008 as of September 17has seen 81 public corporations file for

bankruptcy in the US "

Already higher than the 78 in 2007!

Source : Formaementis.wordpress.com/2008/09/26/economic-crisis

One of them wascreated in 1850

What caused such a global,international disease?

Should we talk about contagion? Epidemic? Pandemic?

Our system!

Internationalcorporateexecutives andtraders made about$100 Billion ofincome… whilelosing more than$1 000 Billion.

Who’s money did they lose?

Which pill did the Government gavethe patient?

The patient,a.k.a. The ECONOMY

The American Governmentgave this treatment:

Injection of $700 Billionto purchase troubles mortgage assets andcontain financial crisis

$700 billion

Is, ironically, almost the same as theDepartment of Health and Human servicesbudget for 2009

($736 Billion)

Enough abouteconomy’s health

What about the people?

What aboutthe 159 000people who

lost their job inSeptember?

http://en.wikipedia.org/wiki/Image:Homeless_-_American_Flag.jpg

What about the 6.1percent of people who

are unemployed?

Unemployment rate in the United States is at 6.1,highest level since September 2003

What about the families who arelosing their house?

As the houseprices drop, thefamilies wealth

declines

What about Lehman Brothers shareholders and its26 200 employees?

Who’s going to pay them?

Who’s going to find them a job?

What about the families andpeople who can’t afford foodprices raise?

Prices raised because of financialspeculators seeking quick returns.

Is someonetalking about

THEIR health,their lifebloodand their pain?

In the event of a recession, howmany people will be below poverty?

After 8 months of consecutive job losses, it’s called arecession…

If I am right, it has been 5 months.

Who will pay thefamilies who lost

money because ofhungry tradersand businessexecutives ?

So, can we recover from thisGlobal Disease?

Yes, we can.