Friday, June 27, 2008

Balance sheet.

What is life `cept pleasure and pain,
Wherein all loss is anothers` gain.

As the Arabs, Chinese and Russians continue to expand their economies, the finances of the U.K./U.S. contract and stumble.

From the Times of London. (Click to link to full piece.)

The Dow Jones closed down 106.90 points last night, or nearly 1 per cent, to 11,346.50, just shy of a 20 per cent decrease from October’s stock market peak. Economists classify a bear market as one that has lost a fifth of its value from a bull market’s peak.
The US economy, the world’s biggest, is already believed to be in recession, with the unemployment rate at about 5.4 per cent. About 380,000 Americans are losing their jobs each week. The surging oil price, the rising cost of food, deteriorating credit conditions and a housing slump are combining to put Americans under pressure.

There will be a lot of searching this weekend, among rich and poor alike. Those who have recently lost their jobs will be looking for new employment, which may not be there.
The wealthier ones will be looking to find other places to invest their rapidly shrinking capital.
Here in Wales, the roads and towns seem quieter than usual, with fuel now having passed £5 per gallon, peoples` income has been "taxed" by the oil merchants.
The price of electricity and gas is set to rise considerably, as is the cost of corporate food.

Just a few miles from here, in Newport Pembrokeshire, is a small development, "Brithdir Mawr", which is self sustaining and eco-friendly, an alternative lifestyle that so many would love to build, but just never seem to have the time.
The project was drawn from both local Celtic influences, and from North American Indian traditions.
Click for link to site.

The non-corporate Amero-Celtic home!!?

Priceless, isn`t it, but if you were wondering, it cost £3,000 to construct.


an average patriot said...

That is great as long as there is no new England winter there. They wouldn't last 5 minutes!
I have to tell you bud you can Google or search it on my site because I did it more than a few times. But this is no recession.
This is the second Greatest Depression. This is just beginning and with the worsening environmental conditions and growing world war this will absolutely dwarf WW2 and the Great Depression Combined. That is why I keep saying be prepared and stay in touch. Take care!

landsker said...

Hi Jim,
Yes, the winters with you are indeed a tad severe...if this economic depression hits before winter, then a lot of folks may be without heating fuel and adequate food supplies.
Ah well, there`s always trout in the streams and clams on the beach!

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