This is good economic news to the world, less the super rich.
The fundamental principle of being rich is to save when times are good, and to spend when times are bad for bargains. It applies the same to leaders of economies.
When times are good, the govt need not spend too much on social expenditure to stimulate the economy, as private enterprise alone would fuel growth through personal greed and competittion, and would not want govt interferences.
However, when times are bad, the govt, through its enormous wealth by revenues of resources and taxes or govt bonds, should use it to stimulate the markets, so that wealth can be CIRCULATED to all - rich and poor through employment opportunities, when the rich had sefishly hoarded up their wealth.
Today, the casino stock market around the world fell. It is only natural and nothing to be feared.
The super rich, whom forms the private lenders of the FED, had long already anticipated the moves, had bought stocks when they were very low, and are only cashing out now with a smile as suckers-born-by-minute bought too late and now have to suffer.
It is not the middle classes whom suffered, as most are deep in debts to play in stocks. It is the lower rich class buffoons with a buck or 2 whom will lose their dollars now.
SERIOUS investments in the real economy of nations in manufacturing and services had already long started, and are the foundations of growth, which is evident in USA and the slow EU countries.
They will account for the growth of economies around the world, providing trade, services and employment with no need for further stimulus as purchasing and selling activities for the circulation of money is in progress, enriching all who have worked hard with such opportunities.
Only the gamblers and the lower rich class along with their well paid economist advisors/dreamers whom had gambled on Bernake's printing machine on that the gravy train will be forever, will scream, tear their hairs out and predict dire forcasts. Misery loves company.
