Crying for leadership
The state and health of the international financial system is so deplorable. Expecting the US to throw out a leader to challenge the scoundrels of Wall Street is like asking for heaven. With Congress being in the pockets of the white collar crooks, there is no possibility of any one of substance to break through the layers of bureaucratic corruption to do what is right and save the financial system. Corruption and mismanagement in the system have been institutionalized and legalized, and copied by many western countries. Period.
While nothing can be done to stop the rot in Wall Street, what other countries could hope for is to stop the rot at their doorstep, to keep the rot out of their national system. The Chinese are defending their infant financial system and are threading very carefully to avoid the pitfalls. But the sexiness and attraction of instant wealth for some are too tempting to resist. When there are so much to gain personally, people become blind to the flaws and the consequences to the country and other people. And if the Americans and the Europeans are doing it, it cannot be too wrong. Or at least they can point the finger to the Americans to justify their crimes. They are putting on the same blinkers not to see the rot. The Chinese are veering towards a tipping point to embrace the failed American financial system of computer and algo trading plus all the derivatives and toxic notes and currency manipulation.
Hongkong is equally cautious. There are brighter people there who could smell a rat and are resisting from falling into the abyss. They are not easily conned by a few westerners who came claiming to know it all and were able to show the way…to oblivion.
At a time like this, when everyone is selling snake oil as the panacea to immortality, it needs a very strong leader with the wisdom to know what is going on to say no. Is there no one out there who is thinking and can see the flaws in the whole financial system? The thinkers, the financial experts, must seriously look at the system and, if things are not right, to say so. Many are so bogged down with their own preoccupation and the money grabbing past time that no one has the time to take the pulse or to diagnose the sickness. There is an urgent need for someone to do this. Someone must have the conviction, and the power to go with, to say the system stinks and needs to be stopped and revamped.
Where is the leadership, the man to call a spade a spade, and want to change and save the system from sliding to self destruct? For the moment the jokers are having a great time, like Nero, fiddling on the roof while Rome burned. There is no one brave enough, knowledgeable enough, to challenge the snake oil salesmen?
High population is good. High property prices are good. High car prices are good. The stock market is in the pink of health. Just believe.