The bubble of greed has burst and been replaced with raving panic.
The economical crisis is nothing else than the seemingly endless spiral of worldwide greed that actually has come to an end.
New financial companies have risen in the last decades and their managers and those of the old established banks have granted themselves salaries and bonuses of similar value to the wealth of old time kings and emperors.
A new noble class also came around, as during the latter years almost everybody of the middle classes suddenly turned into experts in stocks, funds, bonds and other financial tools. Tools that originally were designed to get working capital into industry, but then gradually turned into casino jettons.
Home owners all over the world suddenly, encouraged by the greedy bank managers, saw a way of getting quick money with no effort, by opening new mortgages in the ever increasing value of their home, and many such loans free from instalment plan, only with a small interest to be paid, and the fact that your debt had doubled many times over, did not seem to matter at all, as the value of your home just kept growing anyway… so you could simply take another loan the following year, to pay off the interest and to enable you to get the absolutely necessary king-size flat screen televisions all over your house, and the new car with leather upholstery and with an engine preferably exceeding 200 horse powers, and also enable you to travel to Thailand, the Caribbean or other exotic places laying in the sun enjoying your easy gained wealth, rubbing shoulders with all the other members of the new nobility.
I always wondered if people really believed that the value of real estate could be increasing endlessly… and nobody apparently realised that they were living on credit and loans, as the value of their home was bigger than their debt… but then the bubble burst… and the ugly truth suddenly hit people in the face… and then everybody panicked like lost sheep… emperors and nobility together… and the simple man, who has done nothing wrong, and who has gained very little from the wild years, is left to pay the bill…
Now I will go and watch some TV; on my old 60 kg fat-TV, in my old house, which has no new mortgages attached to it, wondering what the “nobility” eventually will take away from me, to pay off the debt of their many years of utterly debauchery…
