Could you elaborate?
We are in a serious situation but it's no where near dire. Historically there have been much, much worse. For America the great depression comes to mind.
In any event, if we are to be intelectually honest, the finacial mess is the result of greed, arrogance and human falibility. There's no grand CT nor is this simpy the result of crimes.
The fact is that there's really no economic or political system to ensure that humans don't #@$% up. The Nestle fiasco I pointed out earlier was the result of a Swiss company.
At the end of the day, the truth is, the sky really isn't falling. Perspective would be nice. No one said that capitalism or socialism could gurantee there would never be people who would exploit the system for their personal gain to the detriment of others. That's the nature of economic systems.
US America is likely facing a situation worse than the Great Depression. It is indeed "dire".
The financial crash was brought about by removing safeguards, among others, put in place after the Great Depression.
Financial Coup d’Etat
http://solari.com/blog/?p=2058#more-2058
The Fed Did Indeed Cause the Housing Bubble
http://solari.com/blog/?p=2293
“In 1995, a senior Clinton Administration official shared with me the Administration’s targets for Fannie Mae and Freddie Mac mortgage volumes in low- and moderate-income communities. We had recently reviewed the Administration’s plans to increase government mortgage guarantees — most of these mortgages would also be pooled and sold as securities to investors. Even in 1995, I could see that these plans would create unserviceable debt loads in communities struggling with the falling incomes expected from globalization. Homeowners would default on mortgages while losses on mortgage-backed securities would drain retirement savings from 401(k)s and pension plans. Taxpayers would ultimately be hit with a large bill . . . but insiders would make a bundle. I looked at the official and said that the Administration was planning on issuing more mortgages than there were houses or residents. “Shut up, this is none of your business,” the official snapped back.”
Sub-prime Mortgage Woes Are No Accident
http://solari.com/news/announcements/08-07-07/
The scam continues:
How the Scam Works: The "Free Market" at Work, Financial Style
http://www.globalresearch.ca/index.php?context=va&aid=12929