
As Wall Street tumbles, the world quakes
London - Talk of Europe or Asia marching along “decoupled” from the US economy is now gone. No sooner had America’s fourth-largest investment bank filed for bankruptcy on Monday than hundreds of suddenly jobless Lehman Brothers staff spilled onto the streets of London.
It was a tangible sign that global markets and economies are still intimately connected. Banks, insurance companies, pension funds, and mortgage companies from Tokyo to the City are closely tracking the handling of the US financial crisis. While exposure to the root of the problem – toxic securities derived from US subprime home loans – may be lower, financial systems elsewhere are feeling the same squeeze.
”This is a global crisis, not a local crisis,” says Jeremy

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Any time you put all your widgets in the same box instead of several, you inherently own the risk of an event you don’t want to have. Any time you lack diversification in your financial selections, you take a gigantic risk that if one thing falters, the entire system will crumble, like the house of cards that it is.
Government announces $85 billion loan to save AIG
WASHINGTON (AP) — In a bid to save financial markets and economy from further turmoil, the U.S. government agreed Tuesday to provide an $85 billion emergency loan to rescue the huge insurer AIG. The Federal Reserve said in a statement it determined that a disorderly failure of AIG could hurt the already delicate financial markets and the economy.
It also could “lead to substantially higher borrowing costs, reduced household wealth and materially weaker economic performance,” the Fed said.
”The President supports the agreement announced this evening by the Federal Reserve,” said White House spokesman Tony Fratto. “These steps are taken in the interest of promoting stability in financial markets and limiting damage to the broader economy.”

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Some months ago someone shared with me something that none of us read in the morning paper or heard on the evening news. He told me that the Congress was called into a closed session to discuss issues related to our now failing economy.
It was told to me that in September, 2008, our economy would falter and fail. I was also told that our government would cease to operate something in February of 2009. He shared with me what he believed to be the facts behind the Congressional meeting held behind closed doors. He said that our Congressmen were told about these things and that they were working on a plan to evacuate them along with their family if this should occur.

In other words, we ain’t seen the worst of things yet.
Those of us who prepared for the Y2K are probably better equipped to cope with such an event–if it should take place at all. There are websites out there that will provide you with information on what to buy and store in the event that such a situation should occur.
Most of us see all of this as an uncontrollable event, much like an act of God I suppose. But it’s my humble position that there is some powerful element involved with this issue. As to whom it is, I, Albert, don’t have a clue. Well, maybe I have a clue, but I’ll keep that to myself for now.
In the mean time, let’s pray that these events do not take place. Let’s pray to the Lord for mercy and justice to those, if there are indeed such individuals, who are working to bring this economy down as well as the rest of the world.
Okay, maybe I’ll give you a hint as to what I think about the instigators of this crisis… Who has the most to gain by the collapse of all these little national economies? I believe if you follow the money, it will lead you to those who own it… After all, once it all comes crashing down, it will be these people who magically have the answer–which, incidentally happens to be a global financial system…
Just follow the money.
Yours, Albert