The World - Gone to Hell in a Hand Basket -

Smoky Lake Signal Article No. 181
(July 27, 2011) 

I've come to a very uncomfortable, disturbing conclusion: the world has settled into a globalized, laissez-faire system of economic control and management with "national" political systems unable to counter what are likely to be devastating social/economic consequences - yes, the world has gone to hell in a hand basket.  In Europe, the debt crisis in Spain, Portugal, Greece and Italy is being addressed with little chance of success - social unrest is already evident in places like Greece.  In the United States the debt crisis has also reached crisis proportions (on August 2 the US government will apparently run out of money and therefore could default on its obligations) with the Democrats and Republicans polarized on how to deal with the situation - what is so shocking is that a United States Congress compromise is possible, would benefit the nation and maintain its AAA credit standing in the world's financial system , but what has happened is that the whole debate has become irrelevant and partisan politics and winning next year's congressional elections is all that matters - so the game of "chicken" continues as August 2 nears and by the way, the damage has already been done.  In Canada, the country is being told that the fiscal situation is strong and the Canadian financial sector is appropriately regulated and stable - that's all well and good but I'm suspicious of that observation, and that somehow Canadians will be isolated from all the serious problems plaguing the United States and Europe.