6 errors made on way to financial crisis

http://www.nytimes.com/2009/01/25/
business/economy/25view.html

One of the six errors I have been blogging about since I first realized how serious the problem was 1 1/2 to 2 years ago. I couldn't believe that our government could be so unresponsive to not deal with it directly. But I was wrong. All the complacency and apathy of doing business as usual no matter what led to this present outcome.

Since most people who survived the 1930s are in their 80s or older who are still alive most of them weren't listened to either. So people like myself with parents who constantly cautioned my generation to prepare for the next bad recession or outright depression were very insistent that we put all our ducks in a row to prepare for it. However, only about 1 in 10 even in my generation were properly prepared for this latest downturn.

Having lived through the 1970s which were in some way remarkably like this recession we are now in, high unemployment was one of many factors we dealt with then as well as now. Since where I live in California unemployment has now reached 9.3% it is definitely scaring the rest of the country as well. To add to that state checks may soon become IOUs because the state coffers are now pretty much empty. I am told that 37 other states are in trouble financially as well as California. However, if Obama wanted to jump start the nations economy California has always proved itself both very innovative and very responsive in these kinds of situations being the 8th largest economy world wide even now.

The other thing that doesn't make a lot of sense to me still is all this smacks of something planned. However, I can't figure out if world banks are making war against nations or if Europe and the U.S. and India are making economic war against China or if China is making economic war against the rest of the world. This whole thing doesn't make sense to me.

It is easiest to make sense of if I take all this information and say it is:"Everyone for themselves". This makes the most sense to me of multiple very rich people or groups of rich people world wide trying to get very wealthy whether the economy goes up or down in any place or places.

If this last scenario is actually what is mostly happening at core then the 1 billion poorest on earth are in trouble. Because unless these "richest greedy people" are reigned in a little the bottom 1 billion may not survive the next 20 years or so.