Belgian banking and insurance group Fortis received an 11.2 billion euro ($16.37 billion) injection from the Netherlands, Belgium, and Luxembourg Sunday, after two large European banks walked out of talks to acquire the company over the weekend.
I’ve come to the realization that economic collapse isn’t the scariest part of what’s going on. Don’t get me wrong, I think we’re in for a bitch of a recession for the next couple of years, but there are two things weighing on me.
1) In order to avoid all-out collapse, western countries are socializing their financial industries. Result? We’re one step closer to that singular socialist government the U.N. has been wanting. Unfortunately, socialism doesn’t work.
2) While us western countries continue to weaken financially, all of those oil-producing countries that sponsor terror are doing fine; the war on terror just became pretty lop-sided.
Needless to say, we’re in for some interesting times ahead…
