Creditum krisis –
The Global Disease of 2008

The economists
are on the verge of
a nervous
breakdown…
And some media think that the economy might be too!

\" The economy was in deep pain even
as the government pushed forward
Wednesday with its latest financial rescue plan to exchange
taxpayer money for stakes in the nation's banks . \"
October 16th, Associated Press

\" President George W. Bush reassured
Americans on Saturday about the
long-term health of the economy,
insisting that the United States is still \"the best place in the world to start and run a
business . \"
Agence France-Presse, October 18th

\"…still, credit - the lifeblood of the
economy - isn't flowing freely by any
means. \"
Los Angeles Times, October 18th, Tom Petruno

Let’s put our white coats
and see how economy is.
really

First,
let’s see the symptoms

\" Since January 2008, owners of stocks
in U.S. Corporations have suffered
about $8 trillion in losses \"
Which would cause anybody a major headache!
Source : En.wikipedia.org/wiki/subprime_mortgage_crisis

\" The year 2008 as of September 17
has seen 81 public corporations file for
bankruptcy in the US \"
Already higher than the 78 in 2007!
Source : Formaementis.wordpress.com/2008/09/26/economic-crisis

One of them was
created in 1850

What caused such a global,
international disease?
Should we talk about contagion? Epidemic? Pandemic?

Our system!
International
corporate
executives and
traders made about
$100 Billion of
income… while
losing more than
$1 000 Billion.

Who’s money did they lose?

Which pill did the Government gave
the patient?
The patient,
a.k.a. The ECONOMY

The American Government
gave this treatment:
Injection of $700 Billion
to purchase troubles mortgage assets and
contain financial crisis

$700 billion
Is, ironically, almost the same as the
Department of Health and Human services
budget for 2009 ($736 Billion)

Enough about
economy’s health
What about the people?

What about
the 159 000
people who
lost their job in
September?
http://en.wikipedia.org/wiki/Image:Homeless_-_American_Flag.jpg

What about the 6.1
percent of people who
are unemployed?
Unemployment rate in the United States is at 6.1,
highest level since September 2003

What about the families who are
losing their house?
As the house
prices drop, the
families wealth
declines

What about Lehman Brothers
shareholders and its
26 200 employees?
Who’s going to pay them?
Who’s going to find them a job?

What about the families and
people who can’t afford food
prices raise?
Prices raised because of financial
speculators seeking quick returns.

Is someone
talking about
THEIR health,
their lifeblood
and their pain?

After 8 months of consecutive job losses, it’s called a
recession…
If I am right, it has been 5 months.
In the event of a recession, how
many people will be below poverty?

Who will pay the
families who lost
money because of
hungry traders
and business
executives ?

So, can we recover from this
Global Disease?

Yes, we can.