This book presents the first Editorial under the title ‘From 1870 – Until Now’ as well as the aftermath of the 2007 – 2008 Credit Crisis, up to halfway 2020, to help understand what is going on in the world.
The financial crisis that became manifest in 2007 and deepened further in 2008 was totally wrongly treated by the ruling politicians at the time and was not resolved professionally. The muddy misery in the years 2010, 2011 and 2012 was closely followed at the time and the essence of it was then published every quarter. Along with many educational Facts and interesting Tips for everyone. Various main issues have been explained in Editorials. The misery continues as long as politicians do not implement the measures that are absolutely necessary.
Read this book, learn what you need to know to sustain yourself in this world. Try to always do that in order to live successfully and happily.
APPENDIX to this book: Chronicle Credit Crisis
The chronicle begins on January 17, 2007 and presents what was in the news then about the developments in the financial world, with here and there the vision of author Jan Jacobs.
Remediation, see Business Economics how to solve a credit crisis, explained on p.p. 44-46. In 2008, they should have closed the financial system casino instead of renovating it. The world is in need of a new financial system, what is explained throughout this book. My opinion, concluded at the end, and finally you can form your own judgement.
Where are we now, in 2020?
When dictator Erdogan intervened with the Turkish Central Bank, the Turkish economy collapsed. Donald Trump, USA President, did the same like Erdogan. March 3, under harsh pressure from Trump, FED rate fell half a percent from 1.75 % to 1.25 %. The idea was to get stock prices to rise due to the fall in interest rates, but the reasoning of serious investors was away by this. In a few days, the Dow Jones Index dropped to 21,297.88 on March 12. Trump had learned nothing from it, it got even worse, on Sunday March 15, FED interest rate went to almost zero in one fell swoop. On March 16, 2020, Stock Exchanges plunged down completely worldwide.
Corona Crisis, Covid-19 is not Ebola, we have to make that distinction. A flu virus, an accident at home or in traffic, these are all only minimal risks.
Fear became the guiding principle; intellect of government sank further away, fortunately not everywhere. Many people panicked, and governments got stressed. The old respect for the truth no longer applies above all, even for far too many scientists. Fake news, Twitter nonsense, it goes on.
Literal quotation from p. 26 in the book: “The media nowadays barely have quality, it’s almost all about ratings. Politicians, they mostly do not try to pursue ideals to the people anymore.” Manifest already in 2009.
Politicians pass laws and promise the people a lot, but without proper financing, it doesn’t mean anything.
All states, companies and individuals need to exercise self-control in spending, as revenues can drop suddenly in the event of unexpected calamity (so-called Cassandra, prepare for any natural or unnatural disaster) and also in anticipated long-term additional spending.
If you break something in the public space that needs to be repaired by the government and requires additional deployment of police, etcetera, then money is taken out of the treasury and you have to realize that you are robbing the poorest people by doing so, stop doing so!
Every tax cent that is wasted in a country comes at the expense of the poorest of the poor.
Former inhabitants of a country were the owners of the capital in that country and both import and export of capital were marginal. Meanwhile it is no longer clear who owns what exactly, nor where the owners are located; homeownership is traceable as is the ownership of some other things but more and more capital gets out of sight.