The world shuts up shop

Karl FitzgeraldCommentaryLeave a Comment

Creative Commons License photo credit: chatirygirl

Want to arm yourself with more stats on what is happening? One can expect purveyors of local currency, LETS systems, are becoming excited. How can people look after themselves? They need access to land. If only the market system was allowed to correct itself so that land dropped back to affordable levels. Check the Manhattan quotes in this article

IN FLORIDA, a state devastated by tumbling house prices and repossessions, the inhabitants are arming themselves against recession, with requests for concealed-weapon permits up 42 per cent in the past 45 days. In Moscow, the murder rate has climbed by 16 per cent. At Tetsuya’s — the most exclusive and expensive restaurant in Sydney — the waiting list has shrunk from three months to 24 hours.

We have been told that we are in the worst economic crisis for 20 years, then 30, then 80, then 100. It can’t be long before someone points out that really, all things considered, the Black Death was comparatively pleasant. But beyond the hyperbole, one thing is clear: what began as a financial problem in certain debt-soaked nations is battering the economies of dozens of others, as well as millions of people working in almost every trade. It will change behaviour, and alter the pecking order of the world’s economies.

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