Response to a question on current events

[rws1st]

What we have is a system wide failure; Market, Corporate, Government, Consumer.. how ever you want to slice and dice the system it allowed a bubble to occur and it put itself(the system) in jeopardy

Comments

[infopractical]

I am scared to see what happens when the next link in the chain snaps. Can the Fed afford to bailout the municipalities that are collectively hundreds of billions in the hole? Then the states? What happens when the county I live in -- Jefferson County -- ceases to operate?

The county with the largest city in Alabama is "too big to fail", right?

[rws1st]

Is it a republican or a democratic county? I fear that will be the deciding factor.

What they have done so far seems so crazy, that I feel I have lost the illusion I had of being able to project what the political system will do. I am basically clinging to the hope that they aren't as crazy and full of hubris as they seem.

I would be very interested to know what you project as happening over the next year or so?

I feel paralyzed to take make economic decisions. Holding cash seems as risky to me as holding stocks, I am not sure what is not about to crumble.

[infopractical]

It's a democratic county, I think. At least, Birmingham has a democratic mayor. Then again, it looks like he might go to jail for fraud over the debt gambling

[writerspleasure]

greetings :) what specifically brought you to my lj?

[rws1st]

integreillumine recommended you. I think we are now Facebook friends as well~