Tag Archives: UK

May 24, 2013 · 22:42

You might soon be sold by the banks!

I have heard often, in many situations the ‘that is not how it works’ was stated. How it was all in my mind. No, this morning issues were not just confirmed, I reckon that things are even worse than you think they are.

You see, for the most I do not trust ‘Financial Institutions’. They came in a time when there was an abundance of all, when people, as they were turned away from banks, they were willing to take a ‘chance’. For one part, this is Capitalism at its best! (Or at least that is how it was in the beginning.) Now they have grown, more margins more abilities and as we saw them grow in many fields they gained perspectives the banks in their conservatives states did not.

So, whenever I can, I stay away from financial institution. The main reason, they do not have the muzzle to keep them in place when needed. You think this is strange? Well, read on and prepare for the rudest awakening in a long time.

In the Netherlands there is a company called Equens. Today they temporary abstained from a plan to sell on their financial information. Equens is a payment provider. It processes pass (credit cards, bank cards and so on) transactions. They do so all over Europe and they are not the smallest. With 15 BILLION transactions they own well over 10% of the market. The plan is indeed decently brilliant, but dangerous as hell. They almost pulled in the banks to take their transaction data to market. It would have been quite the revenue, but it is the most dangerous one you will ever personally experience, and the issue with ‘temporary’ means it remains a danger. The initial report on this matter drew too much criticism, even though RABO and SNS Nationalised were interested, they crawled back when certain legal issues rose. It had been raised by the Dutch consumer society and the Dutch political party Democrats 66. I feel certain that this delay is a temporary one, as the issues involving legalities might be resolved over time. This is exactly the issue with financial institutions. Banks have power, but as such they were limited in freedom of movement (as it should be). Their commercial corporate brother named ‘Financial institution’ does not have these strict limits, which gives many of us the dangers currently at play.

Even so, Equens did make the promise that the sold information could not be tracked to any individual. This is where they are (intentionally) wrong in my mind.

You see, this goes beyond their system (and that is how they ‘focussed’ their view. Let me show you how. You buy an item at your usual store. That store processes your payment. You remain anonymous. Yet, your usual store has given you a discount/loyalty pass. NOW there is a connection between the bank card and your personality. So, as Equens data is sold on and on and on, more information can be added as the shop cash register (and therefor their data) has your bank pass and your personal details in the form of a loyalty card. Two numbers that could be connected with the greatest of ease and these cash registers have been collecting numbers for years and years. Now the link of two numbers separates their claim of anonymity and total financial and personal classification.

So look at those facts, now check your wallet and look at those cards you have. Are any of them for the Cinema? A book store? A game store? A fashion store? Do you get mail to your home from any of them? You’ll likely have at least one, and with every addition, you will get classified more and quicker. Soon you are nothing more than a product number. This is the ultimate marketing move! Availability of products, per person, per location. This is not such a future event; this is about to happen to us all.

I reckon that whatever happens will happen fast, and not just in the EU. If Equens is so willing to make this leap with only +10% market share, then who are the bigger players? This is a mega million market and if the Netherlands with 19 million people are so desired, then what about the UK with 68 million? Consider the meeting Equens had and a document they presented in June 2011 (source: http://www.paymentscouncil.org.uk/files/payments_council/npp2011_-_consultation_docs/22.06.11_equens_se.pdf).

The statements like: “However, the single largest criticism of the NPP is that it lacks an overarching business vision on which to drive a coherent strategy that delivers the various elements of the Plan.”

So, the National Payment Plan was even more in need of a business vision? To consider those consequences we would need to look at Q42 of that document on page 14. Single Euro Payments Area (SEPA) is under scrutiny where it was stated that ”The adoption of SEPA standards and formats should be introduced as quickly as possible. Whilst this will impose a cost on Corporate UK, the benefits of these new standards will take some time to reach fruition if standards migration is done on a phased basis.” So what adoptions exactly, and as such, which ones are less documented but not prohibited? From an IT point of view ‘formats’ reads as changes to interact data on more levels more easily. Why? Costs on Corporate UK! When have they EVER been willing to accept costs without tenfold falling back into their laps? It is simple basic capitalism. I have nothing against it, yet the part where most others get sold is not in those papers, yet it is not prohibited either. Welcome to the open world of financial institutions where we are about to become their product. Even though Equens is now visible, I wonder where a big boy like Schlumberger (Axalto) is at this point, who has a sizeable share.

The NOS reported on their website (www.nos.nl) today that these moves are for now of the table. Quoted was “Aanleiding voor dit besluit is de maatschappelijke onrust die is ontstaan.” (translation: ‘reason for this decision is the social unease that rose‘). I think that they have business concerns which will not allow them to endanger their 10% market at present. Yet, if they thought of it, then so did the other players and as such the next step is only a matter of time, and I reckon that we do not have that much time left before we are part of a sold system.

From there our world of what we need will be transformed into our world as THEY see we need. A small change will become a world of difference for us all.

Got Milk?

This has been an interesting week for some. This news actually started last week where more and more visibility was given to the fact that shops were running low on baby milk. We are talking about the powder tins that are processed into yummiest milk that babies are supposed to like, love and make them grow healthy.

The UK articles and newscasts showed that shops had limited the baby milk limit to one tin per customer per day. France was already dealing with this issue for some time. The reasoning behind this was the fact that shoppers were buying them on mass to sell them on eBay for staggering profit margins. The interesting part now is that this group has grown into the Netherlands as well, and they now have an issue too.

There the story becomes slightly hilarious. This is what the Dutch Minister Ploumen of foreign trade had to say “Het is natuurlijk prachtig om te horen dat Nederlandse producten geliefd zijn in China, dat is goed voor de werkgelegenheid in ons land. Buitenlandse handel biedt binnenlandse banen. Maar daarentegen kan dit niet ten koste gaan van de Nederlandse moeders en vaders die tegen lege schappen aanlopen” [translation: “It is excellent to hear that Dutch products are desired in China, this is good for Dutch labour opportunities. However, this should not go at the expense of Dutch fathers and mothers who see the empty shelves“]. (Source: http://www.NOS.nl).

So, we have an issue that had been sweeping the market in general for several months. Which is interesting as Nutricia, the Dutch producer who has a world famous reputation for chocolate milk is one of them. They currently have a growing market with spiking needs in excess of 50%. In a time with low economy and overall downsized retails. The minister of foreign trade is talking about empty shelves. But I do agree that this is both a fact and an issue, but is it his?

This hilarious part is that when researching this I found that the Dutch laws have been focussing on different sides of import, especially grey import. This is however an export issue, and so far it seems that the Dutch trade is only outspoken (in a slightly complex way) when it comes to the export of medicines. I did find statements in regards to anti-dumping, that dumping is not an illegal act, which is a discussion for another day.

The interesting side is the lack (as seen at present) on the rules for export. As other nations all have their own rules for import, the export seems to be open to promote trade as much as possible, which makes perfect sense. So it seems that the Minister Ploumen speech of empty shelves is limited to this as there as limitations of export seems to be missing. (There are exceptions as there are clear rules for exporting weapons and medicine).

Except for the few who were quick enough to use the eBay option to sell these packages quickly, this rage of exports is set to people (especially Chinese), who buy these products and mail them to relatives and friends in China. All this based on the baby milk issues within China when their milk was contaminated with the deadly substance Melamine. This initial issue had been reported in 2008 and that had resulted in large numbers of sick baby’s with some fatalities. It is interesting that these levels of mistrust are still an issue now in 2013. Even though there was a call for censorship to prevent larger issues of emerging unrest, I did not find any clear evidence that new baby milk issues emerged, other than the still existing waves of lack of confidence in the local created products.

So considering the facts that these issues have been plaguing the EU since last October, there are two issues to consider.

The first is the question is why the producers did not raise quota needed to fill the shop shelves? It seems extremely unlikely that the producers over 3 nations cannot meet the additional amounts. As I never had to consider this food group, it took a little while to get into the brands. Interesting is that as part of the dozens of brands a sizeable amount refers to: Nestle, Nutricia, Nutripharm and Farleys. Yet, I am not aware of the processes and the amounts that can be produced. So consider that these are the EU’s big four, what is stopping them to increase production? I know that it is unlikely that we just increase the speed of the production line. This is depending on a lot more factors. It is however interesting that these big boys cannot meet demands. It is not certain whether they are working on 24 hour shift solutions, yet three nations, all plagued with employment rate issues and in times of a downsized economy the one product everybody wants, no one can get. So why are we concerned with export legislation at present? (at least in the Netherlands).

You see, this is all about the Chinese import issue. If they start stopping this import then they might be one step away from some serious civil war issues (as most people get REAL cranky when their children are being endangered). If they decide to stop this on quality reasoning, why are they doing this? Their own producers seemed to have endangered their own children. To their defence, at present this seems to be linked to low consumer confidence, not linked to any actual issues at present.

The second issue is about the future. I can agree that the Chinese would prefer joint-venture solutions, yet at present that solution seems unlikely to do anything short term considering the Chinese low confidence in their own products. I agree with any nation that it does not like to depend its future generation on an import issue. That solution reads like little Hans Brinker putting his finger in a dyke whilst 200 meters downwards the dyke is gone, it is very counter-productive. If we care about the population then the Chinese are much better up opening the borders for the next 6 months and avoid optional additional issues with some clever criminal repackaging high end used tins with low end materials. Releasing the pressured need of baby milk, and then get those 4 big boys (or any of them) across the borders, each signing up to address the issues that plagued the factories and get them back on-line with confidence levels that will get the Chinese population back to their local brands. Let us be fair, opening that market seems to be a win for all and basically no one loses there.

What are the additional issues?

To me it seems that export issues are less and less arranged, and I do not think that this is a bad thing. If over regulations hurts trade, then proper actions should be taken, and most nations have decent import regulations in place, so export issues are less likely.

For the UK this is a better arranged side as they are gifted with the UK Export Control Act 2002.

Here we see a few clear options. In S4(2)(b) we read that “(2) For this purpose ‘trade controls’, in relation to any goods, means the prohibition or regulation of their movement;” So this point makes it clear that export can be ‘stopped’ to some effect.

However (there is always a however) Section 1 speaks of Export controls. This states for S1(2) “For this purpose ‘export controls’, in relation to any goods, means the prohibition or regulation of their exportation from the United Kingdom or their shipment as stores.“. And in S4(4) we read that this is linked to S1, which seems to give individuals a clear pass. (Yay for individuality!)

So it seems that the UK companies have clear legislation (which might not be an issue), yet the Dutch and French legislation only seem to have stated rules and limitations when it concerns arms and medicine, beyond that if they were allowed to make it, it can basically be shipped anywhere.

The brutal end of an old man

We all have moments we are not proud of, we all have moments when something hits us and we do not realise it that it came, even though we were not involved or responsible. This happened to me this morning when I got my daily dose of Sky News at 05:00. Mr Mohammed Saleem Chaudry was stabbed to death less than 4 metres from his home in Birmingham. I remember Birmingham; it is a nice looking city. When I was there (I only saw it once) the city looked decently clean with plenty of pedestrian areas. One could say that it is a nice looking town. I visited the Walkabout and I had a gator tail steak. The last is hilarious, because I NEVER ate that in Australia. For football (soccer) fans there is the warning that this city is loaded with Ashton Villa fans, but what city is perfect nowadays. 😉

So, I have seen the place, and even though we see issues in every place we are, I feel happy that I am sensitive enough that the murder of this old man gets to me. He is described as an old man, walking with a cane on his way home from the Mosque. Is this an anti-Muslim attack? Was it just a drunk or doped up idiot not knowing what he was doing? All this is sheer speculation and I think it should be left up to investigators to find out what had happened and I hope they will find out with or without the assistance of crime stoppers (whose information had been added to the Sky News newscast).

Yet, there is a sense of fear that this is just the beginning. Is this all linked to the Six extremists who decided to attack the EDL? They failed because the rally ended early. Their admittance comes at almost the same time that the attack was. Is this what was linked? The timeline does not support this completely as there is a lap of 5 hours. Mr Chaundry was knifed 5 hours earlier, yet some idiot thinking that knifing an innocent old man walking with a cane is a solution?

It seems to me that there seems to be an interesting twist to this story at present.

When looking at the information the internet can give (so that I am as correct as possible) I initially found a BBC link that seemed to have been on the same route. The odd part was that the reference is pointing to February 2013.

This is the information the link gave: “Terrorism trial focus on Birmingham – BBC http://www.bbc.co.uk/news/uk-england-birmingham-21458869
Feb 21, 2013 – Irfan Naseer, Irfan Khalid and Ashik Ali, all from Birmingham, face life … November 2008: Rashid Rauf from Birmingham died in Pakistan in a US drone attack but his body was … “They have no experience of talking to Muslims at their level. … A 75-year-old man is stabbed to death near a primary school in …”

When looking at the link (as these summaries usually are automatically parsed), I found the page and there is NO mention at all of the 75-Year old. Now, I am very willing to consider that it was just another link to a current article, which makes perfect sense. Yet, this is not the case. There was no link. It is almost like the BBC either edited the story and forgot about the links already on the internet, or it is a second level of information.

There is supporting evidence of this.

UK NBC had this link to show:

“75-year-old man stabbed to death – News
news.uk.msn.com/uk/75-year-old-man-stabbed-to-death
23 hours ago – A 75-year-old man attacked as he returned from evening prayers had … in an attack just yards from his home in Small Heath, Birmingham, on Monday night. ….. dallying…..it was a hate crime…simply because he was a Muslim.”

The search engine provided the information above, yet the link takes you to the article with the headline “Murder victim stabbed three times”

It seems there are several levels of editing going on, which in reality might be fine enough. Articles get updated and edited all the time. There will always be an over-zealous writer who needs a little editing by his/her editor.
Consider the text “it was a hate crime…simply because he was a Muslim.” could even have been a valid response in anger. If it was my partner or father, I might have responded in similar ways. Could we blame the family for such feelings? Yet, I do not know whether it was or was not said.

Yet, this al shows another side of the press. This in my view is another notch on the barrel of press reform a-la Leveson. Why is information missing? The NBC article is only 234 words. As web space is next to free, the article could have been a lot more informative. If there was nothing more, then WHY is there such misinformation in the search engine? The press is not allowed mentions of ignorance on their side in this matter, considering the massive amounts of text they put on the internet. The fact that these events seem to have happened with BOTH the BBC and NBC gives food for thought that there is some level of managed information.
I cannot oppose the thought that some information might be suppressed for the need to keep the peace and not make issues escalate, why make things harder for the police? Yet, the press has shown too often that it is all about THEIR needs, the rest be damned. That much, the bulk of all people can agree on in the light of the Leveson report.

A 75-year-old man is stabbed to death near a primary school in Birmingham.

It is a sad event and no matter how sad the event, trying to manage information is often a bad idea.
I must add ‘IF THAT WAS THE CASE!’ The simple truth is that I cannot prove one side from the other, yet the evidence as the search engines bring them to me gives indication that information was edited, yet where and on what level is less certain. There was the report by the police as mentioned in more than one source that there was nothing to suspect that the attack was racially motivated. I doubt whether it could be disregarded at face value, but I am willing to take the police view at this point as they were on the scene and I was not.

Over the next few days we will likely hear more. Will the truth come out? This is less likely, but not because of the efforts of the Midlands Police. The reality is that when a man is walked upon and gets stabbed in the open road, there will likely be a lack of forensic evidence. I do not envy the work Detective superintendent Mark Payne has ahead of him, but no matter what. Should he find those behind this brutal and cowardly attack then the sweet taste of victory will definitely and well deserved be his.

A man, coming back from his place of worship is on his way home only to be stabbed to death pretty much in front of his home. It happened on the other side of the world, yet it saddened me more than usual.
What has this world come to?

1 Comment

Filed under Media

Tagged as BBC, Birmingham, google, Mark Payne, Midland police, Mohammed Saleem Chaudry, murder victim, NBC, UK

March 3, 2013 · 16:51

March Hare of Government

Most of us have seen the news and heard the messages of the sequester cuts for the US of 85 billion dollars. How so many are now up in arms.
Let us be honest! This is all a load of rubbish (imho)! The deficit is 16+ trillion dollars. At 0.5% interest annual interest should be well over 80 billion a year, so they are still skating backwards if only 0.5% interest was due. In reality, as we doubt whether the US will EVER correctly deal with their debts we could consider the fact that it should be a lot higher than that. Also, important that even at 0% interest, it will take 200 years to get rid of a deficit this high. Are you awake yet?
I already mentioned it in 2011 that America was joining the 3G nations (nations that will need 3 generations to get rid of their debt). I was not alone in these thoughts; people like Glenn Beck, Bill O’Reilly and others were on THAT bandwagon as early as 2010. No one listened, all claimed it was not that bad, and it is now shown more clearly on a daily basis that it is getting worse. Yes, a March Hare is in charge of US Government. Oh Boy! The US is not alone in this situation, that same Looney Tunes character, created by Lewis Carroll seems to be in charge all over the commonwealth too. You know, those smaller world leading countries like UK, Australia and to some extent even in Canada. Lewis would be so delighted that he could have added in the cover of his book “These characters are based on leading individuals of the British Empire and those bloody colonials” (sorry US, I could not resist this).
First of all, for the next part, you must realise something first: “I AM NOT A RICH MAN!”
All capitals, I insist! The issue is that I am on the Republican side in this. It is also why I am so angry in regards of the (imho) the statement, which i consider to be BS, voiced by President Obama all over the news. He states “This was not necessary”, I say yes it is. He has overspent to such a degree that these cuts are essential for that nation to NOT go bankrupt. It is also linked to my life philosophy. I have always believed in being a Return on Investment. I get a job and that boss makes a profit by having me. I have worked on dozens of projects every quarter for over 20 years, and my bosses made more than just a small profit. This is how it should go. A company makes profit and that company continues and its staff members have a job. I believe in this simple premise with all my being.
You might think it is a simple and naive approach, but consider to alternative from the financial industry. They play markets on assumptions and reap benefits on image and commissions on a premise, not a given, and not on an actual creation of wealth. That was shown by Goldman Sachs in the 2008 issue where they banked on bad credit and foreclosures to make quick cash. All legal, but that should never have been allowed. This part now reflects back to the US government as these loop holes are still NOT stopped, and they just keep on grabbing from the wealthy and not from the immoral. These two groups are not the same.
This is however, not just about the US. the UK, Australia, the Netherlands, Italy and even France are going in EXACTLY the same direction. In the Netherlands on March 1st their Easter Bunny surprise is about to show the nasty side as it might go into a burnout as they are trying to find 4.3 Billion Euro in cut backs. Not unlike the US, they have been overspending for almost a decade and instead of taking heed then, they left it until they were no longer in office. You just need to check the Dutch newscasts between 2009 and 2011 to see dozens of articles “GroenLinks: bezuinigen is helemaal niet nodig” (the Greens state that cutbacks are not needed). These were often specific issues; however, the overall clear issue is that cutbacks were left too late. Any doubts? Consider that 250 million Euro annual cutbacks in 2008 onwards could have prevented a 4 billion cutback almost essential now. I use the word ‘almost’ as the method of cut backs is nearly always a debatable thing. All parties are passionate on protecting THEIR groups, but some must give in to the needs of cut backs. The CDA (Christian Democrats) are actually voicing a lot like the Republicans. It cannot remain about cutbacks; it must be about proper spending of what is available. So here we have our first direct link.
Two parties who I personally never really agreed with are voicing a solution that is simple and clear. I am NOT against taxing the rich to a certain degree (I am not rich, so fair enough). But NO nation can continue when the rich are taxed to such a degree they move away to other liveable lands. And in all fairness, that group is small. So small that taking them another 1% will NOT EVER get the government the money mountain they need. Should you doubt this, and that is fair enough, one must always question things, consider 1% to make 85 billion needs an Income group of billionaires making a sum of 8.5 trillion dollars. The US, UK and Australia combined do not have that amount of billionaires. This is the empty cloud that Democrats are offering. Which is why I oppose this mindless action. Spending needs to be put under control for a long time, long before 2011. I will state that this is not all President Obama’s fault. He did inherit a bad situation and that must be stated if we look at this honestly. I believe he truly thought that his approach to the bad economy was the best solution. I cannot fault or blame ideology. Yet, 4 years in office showed so clearly that this was NEVER a solution. So why he is continuing that method in his second term is in all honesty beyond me.

So, now let us add the next shackle in this chain. The UK and Australia are already feeling the weights of healthcare. In 2011 the UK had a population of 60 million people. For the period 2010-2011 the NHS had spent 51 billion pounds (as mentioned by the UK department of health). That almost equates to 1000 pounds per person (roughly $1500). A large slice of the UK population never gets sick or treated, yet the group that needs healthcare therefore required more than the 1000 pounds. This figure will shift as the population is growing old and grey. It is clear that the NHS will need more and more money, which is a clear reality many nations face. That links back to US healthcare. Whether it is labelled as Obamacare, as Healthcare or whatever coat of labelling it needs. Forbes reported in 2012 that US healthcare was set around 3 Trillion dollars. Now take a population of 325 Million in the US. Then we see that 1500 dollars do not get us anywhere near the needs of the UK. We can make two conclusions. Either the average American is very unhealthy, or that Medicare in the US is vastly overpriced.
OK, I admit that this equation is very simple and there are more factors at work. However, I hope that it is clear to most that something is wrong. I have stated before that the US seems to be a greed driven society (even though it is mostly visible in Banking and Financial Institutions), Shakespeare would state that there seems to be a stench coming from the state of budgeting (Hamlet banking association, 2008). Just to be certain you do not get the wrong impression, oddly enough Nurses seem to get the smallest part from that barrel, so they are constantly being underpaid (a global truth), so where does all the money go?

The next is generic and not just connected to healthcare. There seems to be too many managers in a company. If America is a ship, then the President is its captain. That is simple and clear. It is however an issue that this administration could be regarded as a badly stocked Titanic with 132 Pursers, 373 stewards, 83 cooks, 227 barkeepers, 93 janitors and the odd Marshall. The issue is that the paying crew is roughly 2000. This could never continue. When the servicing crew is at almost 50% of the paying customers, then either this population starts paying a hell of a lot more, or the ship sinks. I hope that this comparison is a lot clearer. It is actually close to the comparison as the RMS Titanic was populated. Yet, that ship was mostly designed for the indulgent and the wealthy. I hope that some will remember what happened. 1502 people died there. The numbers almost equates that one crew member saves one passenger, the rest is out of luck (I am NOT stating that this is what happened on the RMS Titanic). That is however how the US economy is seen by many. The numbers are a little harder. They are unclear on how many people lost their homes and never got another home. The numbers add up into the millions, and it seems to be around that one in six lost a home forever. So one government worker saves one citizen, the rest is out of luck. This seems to be the Nanny state as some call it. Funds for all! Yet, when no money is coming in, that nation gets shut down real fast. All nations depend on actual money making contribution to survive.

This is how 2013 is starting for the US. The bad issues coming is NOT because of some sequester. It is NOT because someone reports moderate growth. There is a collection of machines left, right and liberal trying to get what they can secure. We can look at Heidi Moore of the Guardian or Maxwell Strachan of the Huffington post. There is long term of financial pain coming and no one is safe. Yet, in all this, it is interesting how some ‘experts’ like Agentschap NL and NABE seem to predict a +2% growth in 2014. What is this? The land of the Umpa Lumpa’s?

I would love those numbers to be realistic. It seems however that those ‘experts’ are more and more moving to the mindset of market research where they seem to present what a government would like to reflect then to the area of research where we reflect the actual facts. Neither is a lie, but one is very very incorrect. All governments want to see nice indications, so they can forward the invoice. That time is gone; we have overspent for too long. Unless spending is reduced greatly, and fat is cut all over we will not see any good growth. If you doubt that, then look at the issues now going on all over Europe as horse meat is added to ‘expensive’ beef. When the daily issues of life are frauded on, then they have met rock bottom. There is no way you can ignore that (as far as I know it takes twice the time to grow a horse to adulthood, compared to a cow, which makes me wonder what on earth is ACTUALLY going on).
So let us get back on that horse steak and drive back to the so called ‘financial growth’. The seen level of misrepresentation is exactly how we move towards the Abyss. Some of those ‘experts’ might point to such good profitable places like China and India where things are currently so prosperous and how we all could be this successful. They are deceiving YOU and delusional towards themselves. You see, YES, Those two places are going forward, and 10,000 new millionaires seem to pop up. Yet, this is due to them voicing the need of outsourcing. WE lost those jobs (perhaps forever). They were cheap, and like on any ‘slave’ farm, there are guards and overseers getting a fair wage for every 10000 workers who are getting mere pennies (in comparison). Now consider that one third of the global population lives in those two nations. So that number of 10000 millionaires seems ‘fair’. Now add to this, a consumer market that could be slowly collapsing. We now have the means for that iPad, Ultrabook or iPhone, but is that still possible in January 2014? Soon this curve will level and then I expect it to decrease. Whether the decrease is short term, or long term I cannot foresee at present (there is no way to tell). But from my point of view it seems that America with their 200 years of debt would be living on slim margins for a very long time to come. If the Commonwealth and the EEC do NOT severely change their budgeting habits we will end in a similar predicament. Make no mistake; America will happily push US over the edge to survive a little longer. Then what?

We need to get a lot better and clever on how we do business and how we govern. My worry is that too many politicians on a global scale are not willing to consider that, especially if they and their constituents have to cut back.