Mark????????s Column. . .
The events taking place around the world are kind of interesting. Within the past 6 weeks we????????ve seen earthquakes, drought, a shipwreck outside of Italy, Israel putting pressure on Iran and the caving of the European Union. This last event will lead to the dissolution of the European Monetary Exchange Unit (EMU). The big question becomes, ??????What effect will this have on the United States of America??????? Another thought to ponder is the cascading of banks around the world as the EMU returns to stone. Or dust, however you prefer it. It appears the power on the European continent will be shifting right into the hands of Germany. Those of you that have been following this thread are well informed (as well as the threads contained therein):
Here????????s a problem we are running into ~ several nations have gone bankrupt and adopted what is termed ??????austerity measures,?????? in a big way. Austerity measures can be defined as follows:
In economics, austerity is a policy of deficit-cutting, lower spending, and a reduction in the amount of benefits and public services provided. Austerity policies are often used by governments to reduce their deficit spending while sometimes coupled with increases in taxes to pay back creditors to reduce debt. “Austerity” was named the word of the year by Merriam-Webster in 2010.
For more information on that topic, go here: http://en.wikipedia.org/wiki/Austerity
Now, what this does in many cases is to take away a nation????????s ??????sovereign?????? status. This can be defined as follows:
A sovereign state, or simply, state, is a state with a defined territory on which it exercises internal and external sovereignty, a permanent population, a government, and the capacity to enter into relations with other sovereign states.
For further information, please go here: http://en.wikipedia.org/wiki/Sovereign_state
On other fronts in economics we will see a transition in the fiat system of currency. That is ~ the paper currencies that are traded around the world. Examples would include the Yuan, the yen, the EMU and the USD, the pound in the UK, etc. That????????s right, the dollar will be changing along with other currencies around the world like those in Portugal, Italy, Spain, Ireland, Iceland and Greece along with Italy. Times are changing folks, be ready. It would be a wise idea as well, to be stocked up on dried foods and canned foods.
A great article was written by Matt Taibbi from The Rolling Stone Magazine this past week. The article is entitled: Everything You Need to Know About Wall Street, in One Brief Tale. It can be found here. . .
There is also a great video to review by Max Keiser (his last report) with his assistant and cohort, Stacey Herbert. That can be found here:
Of course, you should all know about 321gold.com and Bob Moriarty, by now. He has many fantastic writers on his thread and they break the real news before it hits the market and the mass media. The thread can be found here:
Here is another excellent place for staying updated on the news in economics, politics, and even sports (The Drudge Report):
Look for a period of inflation to continue for quite some time, as well as unemployment amongst the nations around the world. Civil unrest will continue and the restructuring of governments along with financial systems will take place. Unfortunately there may also be violent uprisings along with food shortages and a lack of jobs for those who became and/or have become unemployed. The natural catastrophes that have occurred haven????????t helped matters much. As a scientist, I can????????t believe the meltdown of the nuclear facilities in Japan won????????t have an effect on the entire world. In fact, I believe they are having an effect. Now a second nuclear plant in Japan was rocked by an earthquake. How many of you have heard about that on the news? Those of you that read the ??????alternative media?????? have heard about it because the ??????alternative media?????? is where the mass media goes to do their reporting.
I don????????t really prefer to keep my articles long. Anyone who links up with the links on this page could read for a week before they get caught up on events in economics. Preferably, it is chosen by this writer to end on a light note. That is typically with a song. So enjoy this song as you get enlightened by the writers quoted in this column:
Mike & The Mechanics ~
See you all in a few days. Please feel free to forward my columns to anyone you wish who may benefit from the material contained herein.
Peace be with you all, always. . .and in all ways ~
Graduate from Utah State University, Penn State, UC Irvine and The University of AZ