The World Economic Crisis

It will come as no surprise that the ‘times of plenty’ are over. As country after country feels the pinch of growing economic debt, people are taking to the streets to demonstrate about their loss of earnings, and the reductions in social services. Governments are floundering in an ever-increasing spiral of debt as they try to strike a balance between the demands of the people, and balancing the nations budget.

U.S. National Debt

Just today even the mighty United States had its credit rating reduced for the first time in history, and if that has happened, you can bet the world economic crisis is only just beginning.

'The Game' Curse

Part of the problem is, we have had it so good for so many years we have gotten use to it. Instead of the usual holiday to Spain we went further afield, and we could buy an iPad, even though we didn’t really need it. Our living rooms sport a fancy 46″ HDTV because suddenly the old one just wasn’t good enough. The kids all have computers, X-Box and PlayStation games which they spend every waking minute playing. Our homes have become filled with ‘nice to have’ items because we could afford it. But now all that is changed! The people of Greece, Spain, and other countries are out on the streets demonstrating because they do not wish to lose this standard of living.

For sure, there are among them people who find it hard to make ends meet, and in today’s climate they will be hardest hit, but many of those demonstrating are middle-class people who fall into the above bracket. Not one of these well-off earners would for example, voluntarily give up 5% of their salary in taxes to ease the debt crisis and help the needy. They care little if the social services cannot afford to look after poor families, just so long as their standard of living does not deteriorate.

Greece National Debt

We have become so used to our lifestyle of plenty that we do not want to see it slip away, but I have news for you folks: It’s over! There is no way the world economies, especially western ones, can continue to throw money around. National debts are rising day by day and eventually the crunch has to come.

People have to realise they cannot have everything, and many families must wake up to the fact they cannot afford to run three or four cars in the family. As for the exotic holiday to Florida? Forget it! It is not until everyone gets used to the idea that we must all tighten our belts and not expect so much from life, that the crisis will eventually be overcome.

Italian National Debt

Most western nations have become an ‘I want’ culture, and we have become used to doing as little as possible to get what we want. After so many years of plenty it is perhaps time we were brought down to earth, and how hard we hit the ground is up to us really. We all have to realise that times are very hard and it is only by everyone making a sacrifice that we will overcome it.

National Debts Across The World

Get your children used to the idea that you will not be spending huge amounts at Christmas to buy them the lavish gifts they have become so used to. So if you can’t buy a new car and have to spend your next holiday in some place not so far away, don’t complain, accept it as part of your contribution to getting the world economy back on its feet.

Remember, all the people demonstating in the streets on Athens, Madrid and Rome will not get the economy back on its feet. Governments can only spend money they do not have up to a certain limit, and then its time to pay the piper; literally!

Confused about how we got into this situation? The following video will explain it all:

http://youtu.be/Q-zp5Mb7FV0

Roy.