Had Enough Yet?

How is everyone doing this week? Still have a bank account? Company retirement? 401K? Stocks? Piles of worthless paper?

To be honest, I haven’t had the balls to check my 401K at work, I think the shock would give me a stroke!

Not that it would matter, with my luck a stroke wouldn’t kill me outright, just paralyze me. And with the US Government printing presses running 24/7 to make enough Monopoly money in order to “bail out” banks and financial institutions, the idea that Social Security will be funded when the Japanese and Chinese start calling in their markers is just ludicrous.

So begging for alms looks like a real possibility for poor, disabled folk in the near future.

Great, isn’t it?

Very real possibility. But, if we keep printing funny money non-stop to keep Wall Street consolidating into ever larger and larger monstrosities, the world might not allow us to drop forever into the blackhole sewer, because we would either start WWIII, or drag the rest of the planet down the economic crapper with us according to Benjamin Fulford in this article.

And because the theory of “decoupling” ( disentanglement from various economies ) is proving to be so much bullshit as the UK and China start to experience the “pain” of the US with its over-inflated values of property and bogus fiat paper floating all over the planet:

Even in the case where the direct effect is small — the decoupling assumption — the U.S. slowdown still can have a substantial net impact on European exports because of its indirect effect on Asian imports from Europe.

So Europeans should not be tempted to think that they are somehow “decoupled” from America’s foibles and woes. Until recently, many Europeans thought they were insulated from the current U.S. housing and mortgage crisis. But in what has been a truly malignant “export” from America to Europe, the U.S. created “garbage debt” in the form of sub-prime mortgages, and Europeans — hungry for extra yield, and as reckless as Americans — bought it. Many European banks’ balance sheets are now as contaminated as those of American banks, and no one is sure who is holding — or hiding — the junk, and how to value it.

This is why European banks are now reluctant to lend to each other. They could be lending to an institution that is in serious financial trouble.

It is hard to imagine that higher interest rates and reduced credit availability will not lead to distress for Europe’s overall economy. Yet this is exactly the stance of the European Central Bank, which is treating the euro zone as if its financial sector was somehow decoupled from the rest of the economy — and running a different monetary policy for each sector at the same time.

By pumping in whatever liquidity the financial sector needs to alleviate the credit crunch, the ECB is effectively maintaining a deflationary bias for the financial sector, whereas it has announced an inflationary bias for the rest of the economy.

A monetary policy at war with itself cannot long endure…

( link )

Which is exactly what happened in the Eurozone these past two weeks as word of impending financial insolvency of Freddie Mac/Fannie Mae became apparent and word of Lehman Brother’s bankruptcy got around, all of Europe’s markets panicked, not just one or two. As soon as they got word the US government were either directly bailing out or loaning money to these places, the panic eased some.

And so it happened once again this week shortly after Lehman Brothers, AIG started to go belly-up. Thus, the Federal printing presses are cranking up full speed to loan Monopoly money to AIG.

So what can we take from all of this?

1.) Washington ’s Three Stooges:

Greenspan and Bernanke have not been alone in what will surely be remembered as America ’s Financial Apocalypse – the eventful period ushering in a decade-long depression, as predicted in my 2006 book by the same title. Certainly, President Bush did not create these trends. But his financial irresponsibility has accelerated their magnitude. In less than eight years, he has managed to increase the national debt by 90%. As the data shows, not only has he led the worst recovery since the post-WWII era, he has also positioned his successor with budget shortfalls for many years to come due to Part D Medicare, the Iraq War, and his tax cuts for the wealthy.

Combined with the staggering deficits for Medicare and Social Security , America ’s economy will be in the gutter for many years to come even after the banking and real estate troubles cool down. No one else is talking about these issues because they’re wrapped up in the daily drama. But save this article and others I’ve written because I’ve been mentioning the longer-term problems ever since writing my book. In a few years, more people will begin to address these issues once they are transformed into daily drama.

2.) President Bush’s attempts at a recovery:

…have been so horrendous they’ve actually led to the current recession, which will turn out to be the worst in decades. I would venture to guess he is desperately pleading with officials to come up with even more gimmicks to hide the full realities of the economy so the worst will be reported only after he leaves office. But I will guarantee you if Washington and the Fed continue this reckless game of applying band aids instead of letting things play out, we will see a much bigger crisis down the road, similar to what happened after Greenspan tried to mitigate the dotcom collapse. You can bet this is going to happen because Washington does not understand the meaning of preemption.

Altogether, we have had eight years of no gains in real median wages, flat stock market returns, and minimal net new jobs. Despite what you have heard, after adjusting for debt spending, population growth and realistic adjustments to the GDP deflator, there have only been 3 or 4 quarters of GDP growth since 2005. If you adjust for military, government and minimum wage positions – i.e. jobs funded by tax payers and jobs that don’t pay anything – there have been absolutely no net new jobs. Bush’s largest gains have been with inflation, oil and food prices, debt, trade deficits, bankruptcies, foreclosures, and healthcare costs. If an assembly of the world’s leading economic strategists were to design the most destructive economic disaster possible, they could not match the results of Bush’s tenure. Even the most loyal Bush supporters will admit he has been an absolute disaster – that is if they’re being honest. America is now more dependent on foreign nations than ever – not only for oil, but also credit and manufactured goods.

3.) America ’s “Resilient” Economy:

Many of the pundits flood the propaganda networks with repeated denials of the problems, boasting how resilient the U.S. economy is. You know who they are. I’m not quite sure what they’ve been smoking. But it appears to be some sort of hallucinogen because they seem to expect Superman to bend the economy back into shape. Ladies and Gentlemen, in case mommy never told you, there is no Santa Claus and there is no Superman. And if you think Bernanke’s printing presses have an endless supply of ink and paper, just wait until the real crisis appears. So you had better get ready because it’s coming. It is virtually inescapable. And it’s going to cause devastation around the globe. Of course I’m taking about the likely implosion of the CDS market.

Let’s take a look at America ’s “resilient economy.” Let’s see…the entire financial system is in the process of blowing up. Already there have been over $500 billion in bank losses, with over $1 trillion more to come. Over one dozen banks have failed, with hundreds on deck. A handful of large hedge funds have blown up, with hundreds more on the way. Already, over $1 trillion has been transferred from the Fed to the banking cartel. But I estimate another $1.5 trillion will be needed to maintain liquidity as banks de-leverage over the next few years. Unemployment is now over 6% and inflation is over 5%, even with Washington ’s manipulation of the data. Virtually every metric in the housing market is at multi-decade lows, except for foreclosures which are hitting new highs.

Taxpayers are now on the hook for billions of dollars of potentially worthless debt held by Fannie and Freddie. It’s now official. America ’s free market economy is really a socialist system for corporations. One could argue this to be a form of Fascism. My best estimate for losses due to the Fannie and Freddie taxpayer bailout are between $200 to $500 billion. The worst case scenario would be $800 billion. If this economy is resilient, I can’t wait to see how it magically bounces back. When Superman fails to show up, Washington might consider giving David Copperfield a call. But this would be one illusion he won’t be able to pull off. Get the popcorn ready.

( link to full story )

So there you have it. Ain’t too pretty, is it?

I think this is going too fast for the Builderburglers to keep up with, the victim…er…patient has severed an artery instead of a vein and it’s in danger of bleeding to death.

And guess what, China wasn’t ready enough yet to take the reins of world economic super-power.

Too bad, so sad as Highwayman is wont to say.

So you say you don’t believe there’s an NWO, Bilderberger, Trilateral Commission or Council of Foreign Relations or any form of shadow government running anything? That’s your right I suppose.

But unless you’re a billionaire or work for the oil companies and the military-industrial-congressional complex, you’re resigned to a pretty shitty life for the coming decade if you didn’t prepare right.

Had enough yet?

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10 responses

  1. hmmm, I try not to be self centered, but I sure don’t want to have to become a greeter for the wally Mart. Social Security is my principle income, not to mention that my health provider is Medicare, and I don’t do Wallmart in any way shape or form. So here I am saying I…Aye ay ay eye I can’t find my flores’…):

    The Democratic party called a while ago asking for money, and I had to tell them I too am involved in the drama, and my contributions if any go to the folks that are falling through the cracks. Obama will win hands down in an honest election anyway. The silent majority, who are suffering from media fatigue and spinning out of control from propping each other up, will cast their vote for the candidate who they think is the winner. There’s no way Casper and the Caribou killer can win in a contest that is defined by straight shooting…G:

  2. Well, the way I see it Geez is that chances this will be a “straight shooting” contest is pretty nil. We as a nation have a lot of bad karma to pay the piper.

    To be honest, I’m ready for a cycle of neo-liberal policies, so I hope Obama and Biden pull off a coup, or find favor with the Builderburglers.

    The world might not be better off, but at least these guys could be like Uncle Bill and toss us poor working sheeple a few scraps from the elitist’s buffet table instead of getting told to eat “cake” (packed manure used for cook fires).

  3. My, my, so much excellent stuff to read, and I’m all caught up in the wage/slave lemming’s rush, again! Yes, and even those of us in the know cannot really comprehend what is coming, in terms of hard times in the economy.

    I do know that the world (humanity) will somehow survive, but that there must be a time of tribulation (“… such as the world has never seen…”) before our emancipation. This civilization has gone through some horrific times in times past… the thought of what must come sends chills through even this old road warrior’s frame!

    Marine, you made jest in your last post about time travel, but in any other reality, the reality of such a thing could indeed be the only possible outcome for a society bent upon self-destruction, like ours is. I won’t even attempt to pretend that I understand all of the technical lingo employed by the writers in the links you provided, but I once considered (and I still do) that time can be manipulated, and we actually do that, ourselves, everyday, even unknowingly. The human mind is a powerful thing when not burdened by the foolishness of carrying out the daily drudgery of NWO business. So-called “mind-expanding drugs” alter our perception of time, and really, all that time is, is our perception of the natural course of specific events in their chronological order.

    Natural processes tend toward destruction. Unless there is something or someone to provide maintenance, all machines, mechanical or biological, eventually stop. So it is with societal constructs like the one we live in. If there were no divine intervention, this paradigm would eventually run itself out, and the law of averages; the same one that predicts the utter improbability that life could ever develop on it’s own, given the circumstances present, says that any other extraterrestrial intervention would not save us from ourselves, and that we would, as you say, pass to the fate of the dinosaurs.

    The world of the humanist is a bleak one, no matter how one chooses to look at it, and their science backs that premise. We are just cogs in a universal machine that periodically implodes, and then, eventually, reconstructs into something else. Not very romantic or hope-inspiring, but reassuring, in a cold, logic-ridden way.

    I cannot offer anyone any other hope than the one that there must be a plan to things… something so far and above ourselves as to justify the inherent thoughts and dreams and hopes that we all possess, above those that drive the most elemental organisms. We strive for a perfection not apparent in any other life form on this planet. We live, not simply exist, yet we continually fight with that realization, bantering back and forth between two separate ideologies, like a kid trying to make up his mind which candy he wants. We want our candy, but we want to eat it, too.

    In the end, none of it matters, as we all of us have only been here a short time, cosmologically speaking. We knew nothing before now, and we would simply pass back to that state. Life, as we know it, is a joke… really.

    My advice? Treat life as it is… something brief and transitory, for no matter what you do, death awaits at the end of it. Believe only what is good, and hope for the best. Even if you’re wrong, in the grand scheme of things, you’re nothing.

    I choose to believe there is a grander scheme to things than just “fang and claw”, and even if I were wrong, what have I lost, but a lifetime of fret and worry about things and events that I cannot change, which is all that humanity in this reality can offer.

    Reason… that’s the ticket, lads!

    😉

  4. When the going gets tough, the tough get going…

    I like what someone quoted on one of these threads:

    “If ever a time should come when vain and aspiring men shall possess the highest seats in government, our country will stand in need of the experienced patriots to prevent its ruin.” – Sam Adams

    I sense there are some experienced patriots in this particular theater of operations. Keep the faith, dad2059 & co. And keep the communication going. We’re linking up on many levels.
    And at the end of the day, the light WILL outshine the dark. By its very nature.

  5. I am a mech/tech by career, but I’m an historian by education and profession and when I look on Western and other cultures in this day and age, I see many, many patterns and cycles that have repeated themselves ad nauseum for the past 6,000 years.

    And I’m not the only student of history who has noticed, I’m only one of many.

    I truly understand what you believe in and want HW. Deep down, I want the same things I guess.

    But historically, it doesn’t look good that something or someone is going to come and save us from ourselves and our depredations, be it Jesus Christ, The Twelfth Immam, Buddha, alien overlords or Gods of the Singularity.

    Many civilizations have rose and fell and untold innocents numbering in the millions have suffered with no justice. I see nothing now to change that view.

    Two thousand years from now, archeologists from a thriving world culture, or possibly from a Solar System Republic will be picking through our dried shit and bones, wondering what kind of people would intentionally destroy themselves for the limited resources of the planet when they could have expanded into near earth orbit or the Moon and prevented a 1500 year Dark Age and the death of billions.

    But I’ll admit I hope I’m wrong.

  6. Thank you Kibitzer-Truthseeker for the kind words and wisdom.

    I get down at times, but generally I pick myself back up and find a way to march on.

    I’m either too stupid or stubborn, probably both, to know any other way! 😉

  7. Yep, all of the above,but life is far too important to take seriously…G:

    …zzzZZZ

  8. LOL Geez, true wisdom!

    Time to take a na…..zzzzzzZZZZZZZZ*

  9. You do appreciate British humour I take it : snark is a lovely diversion. Here is ‘Text of George Bush’s address’
    http://www.craigmurray.org.uk/archives/2008/09/text_of_george.html

  10. Hmmm…reminds me of the Onion’s take on Duhbya’s initial ‘selection’ in 2001: http://www.theonion.com/content/node/28784

    The last eight years exactly mirrors this ‘snark’ article, does it not?

    Life imitating art?

    Or blueprints laid in front of us disguised as art?

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