What Are We Really Worth?
Daily the value of the economies on the financial markets fluctuates billions. Is the stock market a good representation of the wealth of the Western economies? Companies are valued at the last price quoted on the stock exchange. Does this valuation present the actual value?
The End of the Financial System?
In the decades after World War II the Western economies grew to the present production levels. The growth was technological driven with help of the financial system. Financial profits allowed new investments which generated more profit that could be invested and so on. As long as there are real investment opportunities the cycle of economic growth can continue.
Triple I
Standard and Poor's lowered the credit rating of the USA from AAA to AA+. Who rates the rating agencies?
I volunteer and give them the rating Triple I; an abbreviation for Triple Idiot.
When the rating agencies had done their job properly, for which they are payed very well, the world economy would not have collapsed almost, would not have lost trillions and would not be in a severe recession.
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