The global financial situation.

Have you noticed how our news is dominated right now by the global financial situation? You must have done. It seems some days that there is simply nothing else happening in the world. It drives me crazy.

OK, I'm worried. Most people are. It makes no difference if you are rich or poor this situation is going to get you one way or another. It will get worse before it gets better too. Much worse I think.

So Greece is in a mess. Trillions of pounds worth of mess.......... and so we bail them out. Now it seems that Italy is in a mess too and probably Portugal and Spain. Where will it end? The total collapse of the Euro maybe?

So who is to blame for all this mess? Well we know the answer to that one don't we? Or at least we think we do.......... It's the politicians and governments and banks. But is it? Is there no way at all that we are all jointly responsible?

Don't get me wrong, I don't much like politicians and a good number are probably corrupt. The way our banks have been allowed to run is immoral. But, that is just part of this story.

My belief is that we are in this mess for one reason only.... GREED.

The entire western world has been living beyond its means for over 50 years. That is simply not sustainable long term. I do not profess to know or understand anything about global money markets but I do know that like us individuals, governments cannot continue to spend money that they haven't got. It doesn't work. Sooner or later it all comes tumbling down.

Over the last 50 years we have all become much more materialistic. We want everything and we want it now. In many cases we believe it is our due. Doesn't matter that we don’t have the money, we can borrow it. Tell me something........ if you don't have the money now how will you be able to afford the extra money to repay your loan? You can't. This is how we know that Greece will default on that loan. Of course they will. The way out of trouble is not to lend them even more.

I don't have the solutions, wish I did, but I do think that we all should take some responsibility instead of just blaming everyone else. After all, how much debt do you personally have? Why? Probably you got into debt for similar reasons to our countries. Reasons that maybe seemed good at the time. Maybe it seemed like you had no choice? There is always a choice.

When I began this, I had it all worked out in my head but it hasn't quite come out right. I'll post it as it is. I think my point is that we should stop just blaming everyone else and look to ourselves. The way that we have all been living is not good long term.

There is an old saying. “Neither a borrower nor lender be”. That is good advice.