Coming off record profits, no consequences for starting the world economic recession, and the expansion of the global economy, Wall Street is now openly ready to create their New World Order. Ahh, good old conspiracy theory, but sometimes the conspiracy is not a theory. Recent events regarding the debt crisis in the EU has made this effort at creating such an 'order' quite blatant.
We are all too familiar with the tales of economic woe in Greece, Ireland, Italy and even the U.S. "Investors" are demanding drastic cuts in budgets, at the expense of the people, and tax increases in order to appease financial interests. In Italy, the increase borrowing costs, which is creating even more of an economic problem, will also generate massive cuts. Spain and Portugal are on the brink as are many southern European nations.
Enter S&P and their magic 'downgrade' wand. This wand has been used to put the U.S. notice, basically ruined the Greek economy, what there was left of it, and is now aimed at the EU. For those who follow the Huffington Post, this headline should be familiar:
Here's the deal, the European Central Bank wants to be able to approve EU member budgets and austerity programs to ensure that 'investments' are safe. If members do not agree, then their rating will be downgraded and their economies will go belly up. S&P has fired the warning shot across the bow. Basically, Wall Street is acting with impunity with no one willing to just say NO. Even the U.S. is unwilling to pass a small tax increase on the wealthy to cover extensions in breaks for the middle class and working poor. With the stalling "Occupy" movements, there appears to be no left standing to prevent the Wall Street onslaught against economies, the environment, government oversight and the middle and lower classes. Even with the warning by billionaire George Soros that the global economic system is on the verge of collapse, Wall Street still knows that they will come out on top. Perhaps they see this as an opportunity to rid the world of the flotsam and jetsam they call the masses in order to make life easier for the elite. But, perhaps they underestimate those masses and the very environment they seem so willing to sacrifice in order to achieve their own nefarious ends.