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Message
From
26/09/2008 11:52:19
Hilmar Zonneveld
Independent Consultant
Cochabamba, Bolivia
 
 
To
26/09/2008 11:42:30
General information
Forum:
Politics
Category:
Other
Title:
Re: Money
Miscellaneous
Thread ID:
01350961
Message ID:
01350993
Views:
24
>I think some kind of common sense is usually commended. USA may have problems but it is not a Bolivia or some other similar country. It means that US bank accounts are safe at this point, at least within FDIC insured levels.

"Common sense" is precisely what is missing. There are several worrying trends in the U.S. economy. The whole housing disaster came about precisely from a lack of common sense.

Also, "common sense" indicates that what happened to other countries (I am thinking mainly of hyperinflation) may also happen some day to the U.S. (as a result of the current financial crisis, or some future crisis). The U.S. bank deposits may be safe, but that doesn't help much if the dollar loses a large part of its value.
Difference in opinions hath cost many millions of lives: for instance, whether flesh be bread, or bread be flesh; whether whistling be a vice or a virtue; whether it be better to kiss a post, or throw it into the fire... (from Gulliver's Travels)
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