Headlines- September 18, 2008

China’s tainted milk recall

4 babies dead, over 6000 ill and tons of milk recalled. This is what happens when people decide to make money contaminating milk with melamine.
A total of 18 arrests were made and lots of people detained. Probably some of them are going to be executed and I can’t tell that I feel sorry for them. Buddhism teaches us to be compassionate but really, what compassion could anybody feel for greed pushed so far. What good the recalled milk would do to the already sick babies? The milk recall is good to prevent further deaths but is it going to build a new conscience as well or it is going to make crooks more careful whit what contaminant to add in the future to avoid being caught?

I was reading in some book that in Chinese culture helping others it’s a no-no, because it means that you become responsible for that life you saved/helped or to be more clear, you change that person’s fate with your help.
But from here to deliberately harming people it’s a long way. The only reason for these people to do what they did is because they wanted to get really rich in a really short time. Karma is a bitch, isn’t it?

Crash of 1929 repeating in 2008?

“Let me issue and control a nation’s money, and I care not who writes its laws”.- Meyer Amchel Rothschild

It looks like that the history repeats itself. And we should fear that the new Great Depression is just around the corner.
On Monday, October 21 1929, Wall Street’s freefall started, when six million shares swapped hands, the largest number in the history of the exchange. On Thursday, October 24, 1929, when the New York Stock Exchange (NYSE) opened there were no buyers, only sellers. This day became the legendary ‘Black Thursday’. Almost 13 million shares changed hands on the NYSE that day.
The ‘Black Thursday’ was followed by the ‘Black Tuesday’- October 29, 2008 when more than 16.4 million shares changed hands. Losses were in the $8 billion range (today’s equivalent would be over 1 trillion).
The Great Crash of 1929 was the beginning of a decade of global economic depression.
The crash triggered a chain reaction:
– banks stop lending money
– people stopped buying goods
– stores stopped buying from manufacturers
– manufacturers stop producing
– people lost jobs

We are worried, of course we are. Here in Canada we felt the economic recession despite the assurance and reassurance from our government that the economy is doing fine. It is not doing freaking fine, it’s in disarray. People are losing jobs at an alarming rate, how could it be nice and dandy? Yeah, officially the unemployment rate stands at 6%, but at the same time the company I am working for reduced the number of people to 50% from how many we were here two years ago.

What’s going to happen next? The US of A would borrow money to save the banks. From whom? Uh… maybe China and Russia? And if you want to know what US federal debt is, take a look

The Outstanding Public Debt as of 18 Sep 2008 at 11:29:29 PM GMT is:
$ 9 , 6 4 9 , 0 6 0 , 7 9 3 , 0 0 7 . 6 8
The estimated population of the United States is 304,752,611
so each citizen’s share of this debt is $31,661.95.
The National Debt has continued to increase an average of
$1.80 billion per day since September 28, 2007!

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