All you out there reading this who think "the financial disaster will never effect me," and can hold your noses up high, think about this: ten years ago, (Hell, even five years ago) no one thought the good times would ever stop rolling for all of us. The housing market was going strong, the dollar was strong, gas wasn't cheap, but it wasn't what it is now, the credit crunch was a "myth" that extremists used to scare kids at night.
Now look at what's happened.
Now that we have our "brilliant" leaders to bailout the rich, we can expect much more turbulence in the future.
"Why did they do it?", you may ask. I'll tell you. To save their own asses from global retaliation.
Think about this: many foreign nations (China included) own a amount of American bad debt. They've been buying it up for at least fifteen years - slowly at first to be sure, to hide it from the American public, so that now a good portion of the world is propped up on bad American paper debt.
What's going to happen when they start demanding accountability?
Think about it, America.
The U.S. military forces are barely holding things together in two desert countries with sparse populations.
What happens if a whole slew of nations, from China to Venezuela to Russia (remember those guys?) to India and all parts in between decide they can run world affairs better than W. and his goons? The entire U.S. Army, Navy, Air Force and Marines put together won't be able to defend the country.
This measure is meant to appease Wall Street certainly, but it's also designed to keep the world off the government's back.
Think about it and the answer to these problems should become clear. The trouble is, no one will do a damned thing about it.