This financial crisis was brought on by things that started in the 70′s.
As in – People, back then, did bad things; because they thought the `bad things` were all they could do to get out of thier bad situation.
It would be fair to say, that the `bad situation` they were in, was brought on by other things … that were probably bad.
That is to say – This financial crisis is not just an odd `one off`, brought on by a strange confluence of various swirling, modern, temporary, bad things.
This has been a comin’ for a long, long time.
Let me get my crayons out again -
Let’s base this round `the middle income trap`.
Back in history, some in the West got through the `mit` by various methods.
Since `history`, other countries have officially gone through the mit (off the top of my head, I know I should check, by my head is full of can’t be bothered) South Korea, Taiwan, a couple of places you’ve never heard of, oh … and our old friends Portugal, Ireland, Spain and Greece.
Here, it should be clear, that getting through the mit does not mean life will be roses from then on in.
I remember now that I should have spoken of Argentina first.
There was a time that it was projected to be, if not as big a thing as the US, but not far off.
What happened to them~?
They did not get through their middle income trap (just like a hundred odd others didn’t either).
A big question, about ten years ago (actually they still go on about it (re: INET Hong Kong conference)) was/is … “How will China get through their mit~?”
The answer from me is simple … they won’t~!
Well, not only will China not get through, neither will India, Brazil, Russia, Indonesia, Turkey or any other country you want to list. … And, speaking of lists – The countries that were ticked through, will all fall back out … It has started with the PIGS and will eventually pull Taiwan and South Korea back into the common muck.
One way of saying it, is that to get through `mit` you have to move into a service based economy (which I call the `hairdresser economy`). It is a happy little place with everyone living in a mutually loving society (or something like that). It might be necessary that millions of poor people in other countries are willing to sweat buckets for your local currency bits of paper (but that is all part of their `growing` into a big mature country).
Let’s take a break -
It all goes into a bit of a swirl here … something like – Them yellow niggas would make us stuff in exchange for our paper,, but we didn’t even have us enough paper to give ‘em,,, So we had to get us some more paper.
Where does the paper come from~?…The `paper shop` duh~!!
So we trooped on down to the local paper shop and got us some piles of paper, swapped it between each other for to buy houses and spent the rest on yella nigga shit. Say what~!
The world is full of niggas … and they will work for paper.
If you got you some good paper, then you got you some good niggas.
Nice Lord Turnups from yesterday is likely to wake up dead one day, if he keeps on pointing out that even `good paper` is … after all … only paper.
Da niggas should really demand `quid pro quo` for their blood sweat and tears; but they dont no wat dat iz, doo dey… duh~!