World economics: Ten years on from the big crash

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WORLD ECONOMICVSPhoto: High Contrast

As you can sense, all of this is a tightrope balancing act. And it will not make disappear the aforementioned structural issues in almost every major country of the world. What really needs to happen is that governments, people and businesses should abide by the rules and regulations of this world.

Effective control on the application of the laws and regulations is what is lacking in many of the key economies of the world today. There is almost no control and that leads to gigantic issues, be it not collecting the taxes due, or paying for social security benefits where not warranted. Let shadow banking grow into a multibillion euro problem. Allow credit card and study debts grow out of proportion. Banks that are in dire straits paying interest well above market and making their situation ever worse. To put it very bluntly: If we continue to f@&k the system, the system will f@&k us. How? By crumbling and leaving nothing but chaos and anarchy.

The right to freedom does not include the right to f@&k the system, contrary to what too many ‘would be’ leaders of this world may have let too many people not only think it but also believe. The law and the rules are for others, not for me. And the pot is calling the kettle black. We need people and business to put their feet back on the ground, to stop living on a cloud where money is free. It is not because you disrupt an existing business or a whole industry that you are not governed by the same laws or that you should not pay taxes.

It is not because there is a war in your country that you can pick and choose at random a country where you want to go and live as a refugee. The nearest safe one to your country should do. Of course, the other countries should provide those nearby countries with ample financial and logistic support. If refugees have no intention to go back to their home country after the war there to rebuild it, how different are they compared to an economic migrant? For economic migrants, there are very different rules than for refugees.

All in all, one should not put all the faith in the central banks. It is the governments that should steer the populations clear of the current lingering excesses and poor mentality towards applying and abiding by the rules and regulations. Only effective control of the laws and regulations will lead us out of the real troubles of our capitalistic world today, where the rule of law should reign.