“It’s hard to keep Americans from spending. The U.S. economy is improving at a faster rate than most people imagined it would, and the possibility of a double-dip recession is almost nil,” publishes Business Week. And they would be correct for what is threatening is much worse than a double-dip in anything.
We’re not quite at the "dreadful" stage yet, not officially, we can still kick things down the road some more. This week it will only cost 160 billion more to save Greece but it’s only a matter of time before then next crisis hits or many at the same time. That’s where we are headed, into multiple crisis territory.
Reality is actually much worse than portrayed on the mainstream media. As we sit around our firesides the market is getting up the nerve to go skydiving without a parachute. If you thought the 2008 crash was bad, wait until you see the next one. I don’t think many people in the world are going to get out of this storm unscathed. America and the world face a financial conflagration of immense proportions. Monetary and debt collapse will impact everything and everyone in its path.
Elliot Wave International published, “Despite ten rate cuts by the Federal Reserve Board to record low levels plus $13 trillion (and counting) in government bailout money over the past three years — the Demand For and Availability Of credit is plunging. Without a borrower or lender, the massive supply of debt LOSES value, bringing down every exposed investment like one long, toppling row of dominoes. This is the condition known as Deflation.” The world of fiat money and massive credit is buckling under the pressure of unpayable debt, which is ripping the guts out from societies and governments in the first world.
Hey listen so many have been or are still presently in the losing game of, ‘I am in debt so let me borrow more, much more just so I can keep paying my debts.’ Wonderful philosophy as long as the music lasts but only the brain deadened fools, who have been conditioned not to think clearly about anything, think such debt based music will go on forever.
Greece is small but drinking hard at the debt watering hole this week and its fine for the rest of us who will have a few more months to play before the curtain comes down on the system. For some of us this is good because it gives us more time to prepare but for the many it is just more time to remain in denial and then get blindsided by the financial insanity and fraud that surrounds and embraces humanity today.
Former President Bush would probably repeat his famous line, “This sucker is going down.” Of course those who believe in and endorse madness cling to the idea that everything is alright and the cavalry will come riding over the hill to the rescue. One site tells it as it is:
Well, the truth is that the character of the American people is dramatically different. At the time of the Great Depression, the American people were tough, self-sufficient people who knew how to live off the land. Today, most Americans are weak, spoiled little children who will throw a temper tantrum whenever anyone tries to take their toys away. The character of the American people has been decaying for decades, and there is no way that the current crop of Americans has any chance of weathering a horrible economic depression the way Americans back in the 1930s did.
Already we are seeing early signs of what the rest of America could soon be like. The city of Detroit is a rotting, crime-ridden war zone that has a "real" unemployment rate of somewhere around 40 to 50 percent. The state of California has become a cesspool of gang violence, rampant unemployment, rising foreclosures, unchecked drug dealing, and depressing economic decline. Even in New York City we are seeing early signs of what is ahead. Residents are quite alarmed about the dramatic rise in violent crime that is happening throughout the city. Many New Yorkers were convinced that the days of "The Rotten Apple" were behind them, but economic problems are going to cause an increase in crime in just about any city.
Here is how it works according to Bill Bonner: The lowly householder can’t pay his mortgage, so the mortgage company takes the loss. The mortgage company goes broke so the banks take a loss. The bank takes a loss so another bank, the one that bought its derivative debt bomb, goes broke. And then, the feds step in and take the debt over. And then they add trillions more – claiming to protect everyone from everything…
…the guy who hasn’t saved for his retirement gets Social Security. The guy who hasn’t got health insurance gets Medicaid or Medicare or some sort of freeby medical help. The bankers get bailed out. GM gets bailed out. Farmers get subsidies. Poor people get food stamps. Lobbyists get contracts….
…and then the little government that is paying for all this can’t go on…so a bigger government bails it out…
…and then, investors buy the big government’s bonds…because they’re safer…even though they’re all in the same boat…
…and then the boat sinks!
Guy McPherson, a professor emeritus at the University of Arizona hits us right between the eyes with what is going on.
If you keep your eyes closed, you’re going to run off the road. This society has already driven into a ditch, but you are not required to join the crash. Again, then: How many warning shots do you need?
We could spend a lot of time pointing out the lunacy of all the safe havens listed above. Moving in with the in-laws? Have you even asked? Isn’t there a reason you don’t live with them already? Have you discussed economic collapse with them, or do you continue to ignore the most important topic in the history of western civilization, opting instead for polite conversation?
How ’bout them Red Sox? Nice weather we’ve been having, doncha think?
Stop me if I’ve mentioned this one before: If you keep your eyes closed, you’re going to run off the road.
And Mexico? Do you speak Spanish? Fluently? Do you think you’ll be welcome there, gringo? Do you think continuing our history of occupation is a good idea, even at the personal level? Again, as before, why don’t you live there already, if it’s such a great place to be?
The wilderness? Really? Without a grocery store?
And so on, down the list of ludicrous options.
Here’s a thought: How about starting to prepare for a world without ready access to cheap fossil fuels? That would entail securing a personal supply of water and food for you and your family. For the rest of your life, and theirs. If that’s simply too daunting a task for your lizard-like brain, you can take the route pursued by about half the people to whom I speak: “I’ll save a bullet for myself.”
Something has changed in Europe. Europeans are generally in no mood for the bureaucrats in Brussels to gain more power at the expense of the nation’s-states meaning one of the big power elite themes is coming apart. After recent defeats with the collapse of the global warming theme and the loss and admission of fraud with the swine flu pandemic we see some chances for the elite’s plans for world government under their brutal thumb coming apart.